Trump tax returns show former president was subject to $10,000 SALT cap — but experts say he may have sidestepped the limit
Former U.S. President Donald Trump on Nov. 15, 2022. Eva Marie Uzcategui/Bloomberg via Getty Images Former President Donald Trump paid millions of dollars in state and local taxes from 2015 through 2020, according to income tax returns publicly released Friday by the House Ways and Means Committee. But while the returns show associated tax deductions were capped at $10,000 a year starting in 2018 — due to a tax law that took effect that year — experts say Trump may have been able to bypass the cap via a workaround involving certain business entities. Doing so would have given him a bigger federal tax break — and sidestepped a contentious tax policy in one of his signature legislative achievements, known as the Tax Cuts and Jobs Act, experts said. More from Personal Finance: Why egg prices surged in 2022 What to know before tapping retirement savings to pay credit card debt What to do if you win the $640 million Mega Millions jackpot "Just because there was a $10,000 cap, there are...