CNN —Former President Donald Trump could owe more than $100 million in taxes as a result of a yearslong Internal Revenue Service inquiry into claims of huge losses on his Chicago skyscraper, The New York Times and ProPublica reported Saturday. The 2008 claim resulted in Trump reporting losses as high as $651 million for the year, and there is no indication it drew an IRS challenge, the outlets reported. Then, Trump’s lawyers enabled further claims of losses in 2010 by shifting the Chicago tower into another partnership, “DJT Holdings LLC,” The Times and ProPublica reported. The outlets calculated the revision sought by the IRS could result in a tax bill of more than $100 million. “This matter was settled years ago, only to be brought back to life once my father ran for office.

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Persons: Donald Trump, ProPublica, Trump, —, “, ” Trump’s, Eric Trump Organizations: CNN, Internal, New York Times, Trump, “ DJT Holdings, The, Trump Organization, Times Locations: Chicago, Trump’s Chicago