Interesting find-from the Year He Paid $750

[Rule of Claw]

in his own words.

Link to tweet

?s=20

[5X]

1. Wouldn't he still owe taxes on the 50 mil?

[fleur-de-lisa]

6. There was no $50 million. He was dead-ass broke.

[okaawhatever]

2. OMG Seriously? nt

[Rule of Claw]

3. Well IDK. He forgave his own campaign

a $50 million from himself. So-and I am not an expert

1. You get a $1 million lifetime limit of gifts.
2. A forgiven debt would have had to have incurred tax burden on the campaign right?

If it is a gift, he owes on that.

If it isn't the campaign does.

https://www.irs.gov/charities-non-profits/political-organizations/taxable-income-political-organizations#:~:text=A%20political%20organization%20is%20subject,its%20political%20organization%20taxable%20income.&text=If%20the%20organization%20is%20the,in%20%C2%A711(b).

[okaawhatever]

4. Bwah ha ha. Can't wait to see that audit, Nt

[Massacure]

5. Aren't political campaigns exempt from income taxes?