Jared Kushner likely paid no taxes for years - despite making millions

Remigio Civitarese
Ottobre 14, 2018

Jared Kushner, whose net worth is nearly $324 million, appears to have paid almost no income taxes from 2009 to 2016, The New York Times reported Saturday.

White House senior advisor Jared Kushner (C) and Treasury Secretary Steven Mnuchin (L) wait in the Rose Garden prior to President Donald Trump's news conference on the United States-Mexico-Canada Agreement (USMCA) at the White House in Washington, U.S., October 1, 2018.

The Times spoke to 13 tax accountants and lawyers. Kushner did not break the law, however, when he marked his losses through depreciation, a tax benefit that allowed his company to deduct a portion of the cost of its buildings from its taxable income each year.

Peter Mirijanian, a spokesman for Abbe Lowell, Kushner's lawyer, said in an email that he couldn't respond to assumptions taken from incomplete documents. More than a dozen tax attorneys and accountants who reviewed the documents at the request of the Times said the primary reason he paid little if any in federal taxes is depreciation. Kushner sold his interests in the company to a family trust a year ago.

The White House refused comment for the story.

Mr. Mirijanian added that, with regard to the tax legislation, Mr. Kushner "has avoided work that would pose any conflict of interest".

Kushner Cos said previously it had more than $2.5 billion in transactions 2017 and has 12 million square feet under development in NY and New Jersey.

The report was based on more than 40 pages of documents that The Times reviewed, which were created with Kushner's cooperation as party of a review of his finances when applying for a loan. The disclosures also show that Kushner and his wife, Ivanka Trump, received at least $82 million in outside income in 2017.

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