Former President Donald J. Trump used a dubious accounting maneuver to claim improper tax breaks from his troubled Chicago tower, according to an Internal Revenue Service inquiry uncovered by The New York Times and ProPublica.
Losing a yearslong audit battle over the claim could mean a tax bill of more than $100 million.
The 92-story, glass-sheathed skyscraper along the Chicago River is the tallest and, at least for now, the last major construction project by Mr. Trump.
But when Mr. Trump sought to reap tax benefits from his losses, the I.R.S.
That move resulted in Mr. Trump reporting losses as high as $651 million for the year, The Times and ProPublica found.
Persons:
Donald J, Trump, ProPublica
Organizations:
Internal Revenue, The New York Times, Mr, Times
Locations:
Chicago