The tax agency concluded in its long-running investigation that Trump effectively claimed the same massive write-off twice on his failed Chicago tower.
The first write-off came on Trump’s tax return for 2008. With sales lagging far behind projections, he claimed that his investment in the condo-hotel tower met the tax code definition of “worthless,” because his debt on the project meant he would never see a profit.
It did have his name all over it.