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Clutch the pearls! It appears from his financial disclosure that Donald Trump may have committed a wee touch of tax fraud. Did the Grifter in Chief evade $360,000 in federal taxes with a sham real estate sale to Eric Trump? And can one find bear scat in the forest?

Let’s Fraudsplore!!!

Last month, Trump’s lawyer Sheri “Manila Folders” Dillon cobbled together a financial disclosure that was true enough for Trump to sign. After the Government Ethics Office posted it online, ProPublica put out the call for nerdland to start digging through the 98-page document. Right away, the Bloodhound Gang noticed a funny smell coming off the sale of two condos in Trump Parc East.

At first they thought it was just the faux French spelling of Park, mais NON! It was le parfum indéniable of grift!

Poppy Trump bought 100 Central Park in 1981, when the building was 80 rent-controlled apartments. Trump redeveloped it as 70 luxury condos, renaming the building Trump Parc East and selling the units for an average of $3.5 million. Even Donny Jr. bought one in 2007 for $2 million. In February 2016, Trump listed unit 13G for $790,000, and 14G for $800,000. But two months later, he sold the condos for $350,000 each. HUH!

Image from ProPublica

Wow, that’s less than half the market value! Whoever bought those condos must be one hell of a negotiator. Congratulations CPS Apartment 13G, LLC!

Wait a second! Weak chin, white eyelashes, vampire cuspids…

Why, Eric Trump! We’d know you anywhere!

Image from ProPublica

It sure was awful nice of Eric’s dad to sell him $1.6 million dollars of real estate for $700,000!

Now, there’s nothing illegal about the sale, and there’s nothing illegal about using a limited liability company or LLC for the transaction. BUT, the taxman has a right to know whether the buyer and seller are related. Because the law presumes that strangers are doing business, while family are taking care of each other. And Eric Trump buying the condos through an LLC does not make this into an arms length transaction.

WHICH PROFESSIONAL REAL ESTATE DEVELOPERS KNOW DAMN WELL.

So when the State of New York asked if the parties to the transaction are related, Donald Trump was obliged to say, “Yeah, that albino dipshit is my son.” And he didn’t.

Image from ProPublica

Instead, he hid the fact that he’d just made a $900,000 gift to his son by selling him $1.6 million of condos for $700,000. Why ever would he do that????

Well! The gift tax rate is 40%, and 40% of $900,000 is $360,000. Which is real money, even for a billionaire. Sure, it’s tax fraud. But, we’re talking about the guy who used his family charity to pay his son’s $7 Boy Scout registration dues. Fast and loose is kind of his thing!

As ProPublica reported, scamming the IRS is the only reason to pretend this was an arms length transaction. The State of New York doesn’t care about gifts — it only charges transfer tax on money actually paid. And having the two low-priced apartments actually hurts the other condo-owners by depressing the average unit value.

“This is really, really primo real estate,” said Bob Lord, a tax attorney who reviewed the transaction records at ProPublica’s request. “Why would you show a sale at $350,000 other than to play games for tax purposes?”

There’s always the possibility that Donald Trump’s 2016 tax return would show that he actually did pay the $360,000 in gift taxes. Although in Wonkland, we’re calling that one not bloody likely. But please, Donny, prove that we’re all just haters and losers! Release those tax returns so you can rub our jealous noses in it! We dare you!

[ProPublica / StreetEasy]

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  • Nounverb911

    Donne never accidentally commits tax fraud, he has lawyers for that.

    • Crystalclear12

      And his accountants with little hats.

      • x111e7thst

        the Best accountants

    • Latverian Diplomat

      Or he constantly commits tax fraud, and he has lawyers to cover it up for him. Two different ways to look at it.

    • ArgieBargie

      Further proof that only Donny can fix the tax code because he knows how to game the system.

    • jesterpunk

      But does he pay those lawyers?

  • Wild Cat

    To be honest, if he were my son, I’d do my bloody best to forget him too.

  • Crystalclear12
    • calliecallie

      I saw this on twitter. Like what the fuck? And they’re giving Joe Manchin a hard time? He’s practically one of theirs. Wow, talk about rock fucking bottom.

    • Joe Beese

      Stuff that was happening when Bill Clinton was last in power:

      – Apple introduces the iTunes music software
      – the FTC approves the merger of AOL and Time-Warner
      – Wikipedia goes online

    • TJ Barke
    • schmannity

      “What’s the Democrats’ plan?”

      googling . . . googling . . . googling..

      Something called the Affordable Care Act.

    • georgiaburning

      Dems could post Harry Truman’s national healthcare plan from 1945

  • Latverian Diplomat

    “I have to keep track of gifts to my kids? Thank god I never give Tiffany anything.”
    — Donald Trump

    • Wild Cat

      “I give you the dancing
      You give me disease.”
      —Tiffany*

      *H/t Robert Frank.

  • Joe Beese

    FAKE NEWS!

  • WeaselPoo

    Needs moar ball sorting robots

  • Ill-Advised

    So, I can’t sell my old car to my son for a dollar, unless I pay 40% of the Blue Book value to the IRS, unless both of us form different LLCs and contract through the Cayman Islands? That’s so much less work than just paying the tax, amirite?

    /snark

    This guy. I can’t even.

    • Weird Fishes

      Sorry to say that probably the biggest reason why you can’t even is because you don’t have an Oort Cloud of attorneys and other functionaries setting it all up for you to sign.

      One does function more efficiently when one’s domestic staff is sufficient for the task at hand.

      • Ill-Advised

        Preferably if they’re all from countries with no extradition agreements and require interpreters, adding months to the investigations, without factoring in the reconciliation of island time and court calendars. The islands, as well as the assets, will be underwater before anything settles. Genius!

    • OddMan

      There are a ton of exemptions. Gifts of $14,000 a year or less, no tax.
      $5.4 million lifetime limit.

      Gift Tax is for the obscenely rich.

      https://www.irs.com/articles/7-things-you-should-know-about-gift-tax

      • Old town Urbandale

        To hear them tell it, the obscenely rich would love to shower all the common people with large cash gifts, but the damn tax won’t let ’em.

        • willi0000000

          i think you might be confusing “large cash gifts” with “it’s raining . . . but it’s warm . . . so you’ll like it”

          [ urine charge now ]

  • UncleTravelingMatt

    Another paperwork snafu? The Trump Organization is about as bad at paperwork as . . .

    I got nothin.

    • Me not sure

      Feel free to use me as a reference for poor paperwork.

      • Oblios_Cap

        I’m thinking someone hasn’t been producing their TPS Reports!

        • Me not sure

          .. and I won’t tomorrow.

          • Riley Whodat Venable

            You may have to come in on Saturday.

    • WhiskeyTangoFoxtrot

      Trump is at Predisenting…
      Gingrich is at staying married…
      Nunes and Session are at recusing themselves…
      Fox News is at newsing…
      Any Republican is at telling the truth…

      This is fun!

  • memzilla Ω

    Wait a second! Weak chin, white eyelashes, vampire cuspids…

    Finally, a worse love story than Twilight!

    • Latverian Diplomat

      A love story based on a sociopathic narcissist can be done as a one man show.

      • Ill-Advised

        Simplest set design ever. Wouldn’t even need mirrors.

        • Latverian Diplomat

          Or an audience.

  • Latverian Diplomat

    “I don’t see a tax issue, I see a great man removing apartments from the prison of rent controls and releasing them into the glorious free market. The IRS should be paying him.”
    — A Liibertrumpkin

  • armed_bears

    Wow. Journalism again.

  • Crystalclear12

    For someone who likes things well done these books aren’t.

    • Latverian Diplomat

      They cooked them as long and hard as they could.

      • Bobathonic

        Needs moar ketchup.

      • Joe Beese

        We have a winner.

    • Real accountants who went to college, and then worked to get their certifications cost lots of money! It’s so much easier to hire the friend’s kid who took an accounting class in high school!

    • grindstone

      The Flying Karamazov Brothers couldn’t juggle these books.

  • Aileen

    The most amazing thing about this is that under the New Rules, this obvious tax evasion will go unpunished.

  • Scooby

    I heard he’s sending investigators to Hawaii to find Eric’s real birth certificate.

  • ArgieBargie
    • schmannity

      He buys expired blood from the Red Cross, slaps a Trump label on it, and sells it to unsuspecting brand-conscious vampires.

  • Lance Thrustwell

    I just want evidence of these sorts of relatively small-potatoes sketchy deals to mount and mount until it’s a huge pile of corrupt potatoes. That should be good enough for Mueller, Schneiderman and their people to build something that Congress can’t ignore. I hope.

  • schmannity

    Gosh, it’s like everywhere you look or hunt, there are witches.

    • I blame the difficulty in obtaining birth control and the closure of so many abortionplexes. The population has exceeded the carrying capacity since January. Hence, the need for more hunting licenses…

      • clubseal

        Couldn’t witches just use eye of newt or something to prevent pregnancy? Asking for a friend.

  • Joe Beese

    You know, tax fraud is the kind of thing that might have gotten President Hillary Clinton in trouble.

    • BMW

      I had some online wingnuts try to tell me earlier today how ethically murky it was for Elizabeth Warren to claim she was part Native American.

      • Joe Beese

        That’s where the big money is.

        • Covfefe’s Evil Twin

          Are you suggesting Senator Warren is in the pocket of big wampum?

      • Persistent Tennessee Rain

        Well, they are pretty fucking stupid. I had one tell me that doing the New York Times Sunday crossword every work was a waste of time. Yeah. My brain. Why would I EVER want to use. it.

        • Bobathonic

          You need to avoid thinking, it uses up your brain.

          • vivian

            I heard from Our Leader DJT who is a confirmed Sientist that the brain is like a battery and once you use it it’s all used up. So be careful out there.

  • Yr. Gma

    To be fair, Eric is kind of forgettable.

  • Spotts1701, Resistance Pilot

    These people can’t even run a good tax evasion scam – where’s the cutout buyer, the shell companies, the blind drops?
    Yeesh, bunch of penny-ante wannabes.

    • Shanzgood 2 Days

      Right? Dumbfuck Jr. even signed the check himself.

  • pinklaw

    The problem with this is it is exposed too soon. Trump has not filed his 2016 return so he has time to declare the gift and pay the tax.

    • Joe Beese

      Forcing him to a pay a tax he clearly wanted to avoid is the best outcome we can reasonably hope for.

      What, you thought Congress would impeach him for this?

    • Fivedollarfeminist

      Ah, damn! Forgot he was on extension!

    • Indivisible Snark Tank

      Have Uday and Qusay filed yet? For that matter, has anyone tried to get copies of their (and Princess Vanky/Prince Jared’s) returns?

    • TX Dept. of Space Tacos

      eh, but lying on a form by checking None is kind of a thing right? (Not as much as the 2016 return, but you get me).

  • TJ Barke
    • Joe Beese

      They won’t be fake covers any more!

      • TJ Barke

        Because if you can’t actually generate good press, fucking buy some.

        • Beowoof14

          Someone paid attention to Charles Foster Kane.

        • Zippy W Pinhead

          worked for Sheldon Adelson

      • WotsAllThisThen

        They’ll create a special issue each month just for him.

    • georgiaburning

      If you don’t like the news, go out and fake your own. Isn’t that it, Donnie?

    • bobbert

      Oh, Jesus H. Fuck.

  • puredog

    Goddamnit, where DID I put those pearls?

    • elviouslyqueer

      Did you check the fainting couch? They’re probably wedged somewhere in the cushions.

    • JustDon’tSaySortMyBalls

      Somewhere between the stars and garters, maybe?

  • IdiokraticDrumpfenResistance
    • TJ Barke

      Because if he was 15 (he fucking isn’t) that would totally excuse his disgusting remarks…

      • Ken S., As Seen On Watch Lists

        Ugh, lately it seems that you can be in your 20s and still claim that you shouldn’t be expected to have any self-control or decency. Just a few weeks ago, I had a 19 year old tell me that his age excused his racial slurs and misbehavior, and that it was unreasonable for me to treat an adult man as though he was responsible for his own conduct. It seems like adult men are now demanding to be tolerated the way you would tolerate somebody else’s impulsive child in a family restaurant.

    • Joe Beese
    • BigCSouthside

      That last tweet of his saying liberals can’t celebrate independence ( a movement by liberals of the time), and Eric’s comment about liberals not being human is pretty fucking scary

      • C4TWOMAN

        I can’t see that tweet, but I’m not sure what he means. Liberals aren’t using fireworks, legal or otherwise?
        ???

  • Beowoof14

    Oh we’re not getting to see Donnie’s taxes till the trial. Which hopefully comes sooner rather than later; Come on Bob Mueller.

  • Bill D. Burger
  • Ms.MLG on Maui

    This wouldn’t even be an issue if we deported the Declaration of Independence.

  • msanthropesmr

    I don’t buy it. Since when did Donald Trump have primo real estate?

    • BosGrl

      When he buys it out from under people paying affordable rent… I mean, how dare they.

  • Joe Beese
    • TJ Barke

      Fucking sycophants.

    • Bobathonic

      Simple solution: CNN prints a mea culpa and reveals the guy’s name. Everybody’s happy.

      • WotsAllThisThen

        Yes, apologize to the man personally. They owe him that much at least.

    • C4TWOMAN

      I’ve completely lost sense of what is satire, parody, snark and reality these days, thus was forced to check Britefarts to see which is which.

      Curse you,

      However they did link to an article about the “Han Solo” film losing their director, so that was worth it, I guess….

      http://variety.com/2017/film/news/star-wars-han-solo-kathleen-kennedy-director-fired-1202473919/

  • azeyote

    he won the election after all the fake news said he wouldn’t so whatever the family does is what the american people want – we are so fucked –

    • BreakingDeadMen

      Fuck them. We need to destroy them. With votes, impeachment, that sort of thing.

      • Ken S., As Seen On Watch Lists

        Preferably, but let’s not pretend that the people don’t reserve the right to use any means.

    • Spotts1701, Resistance Pilot

      Yeah, Bullet Accessory wearer Katrina Pierson said pretty much this over the weekend – anything the President does is by definition presidential because he’s doing it. So you cannot accuse him of behaving in an un-presidential fashion because that would be lying.

      • Dudleydidwrong

        “Really, really true.” Richard M Nixon

  • armed_bears

    Also fun: If there are more of these shenanigans, is he in the “must pay gift tax” zone? Remember, taxable gifts count as part of the $5.45 million in 2016 you are allowed to give away during your lifetime, before you must pay the gift tax.

    • suziq

      No problemo, the Rs will just get rid of that stupid rule.

      • armed_bears

        Undoubtedly correct: Governing may be hard when you control all three branches of government, but blundering not so much.

  • BigCSouthside

    Now, will anything come of this?

    Nope

    • Roadstergal

      Yup. :/

    • mancityRed6

      if those damn liberals at the IRS weren’t spending all their time taking away the free speech rights of the proud tea party…wait, are they even around anymore?

  • Zippy W Pinhead
    • WotsAllThisThen

      “We tried doing nothing and we’re all out of ideas.”

    • Doug Langley

      “They challenged Hillary to come up with her own health care plan . . .”

      You mean, as opposed to the one she campaigned on?

      • …seriously?
        What the fuck does Hillz got to do with it anymore?

        • Nicholas

          They put so much work into demonizing her, expecting they’d have 4 to 8 years to raise money riling up the base by waving her name around, you think they’re going to quit just because she didn’t get elected?

      • Thiazin Red

        Improving access to healthcare has kind of been her thing for decades.

    • mancityRed6

      their plan is already out there, it’s called medicaid for all.

  • Jenny

    You see libtards. This is why we elected him to make america great again. He is so smart, he cheats the tax system all the time. The country is broken and PRESIDENT TRUMP WILL FIX IT!!! You commies can’t handle losing so you cry all day about it. Get a job! MAGA.

    • Ken S., As Seen On Watch Lists

      Is this even sarcastic? I can’t tell. Trumpanzees do see tax fraud as proof of Big Smartness, after all.

      • Jenny

        Tax fraud is nothing compared to BENGHAZI!

      • jesterpunk

        Not paying taxes or committing tax fraud makes you smart.

        https://www.youtube.com/watch?v=uBZR1-onmAo

        • Cat Cafe for the Prosecution

          YEAH! And insisting on the State Department using a private server to protect classified intel (that still has never been hacked) makes you A CORRUPT WHORE WITH PNEUMONIA!!!!

      • Nicholas

        If he’s white and rich, cheating the government out of millions in tax dollars is just being a smart businessman and sticking it to Big Government. If they’re poor and brown, getting a couple bucks in welfare means they’re evil leeches and moochers literally stealing money out of the taxpayers pockets.

        • Ken S., As Seen On Watch Lists

          WASTE, FRAUD, AND ABUSE! WASTE, FRAUD, AND ABUSE!!

        • Riley Whodat Venable

          Remember, yesterday we celebrated the actions of 241 years ago. One of those actions was rich White men trying to avoid taxes. This country was literally founded on tax protest.

    • Hemp Dogbane

      I thought I unfriended you a couple days ago.

  • Zippy W Pinhead

    Judging by that photo, I’m pretty sure Eric Drumpf was the victim of a tragic accident involving ball sorting robots

    • Relativicus

      Afghani or Gambian?

      • Komsumverweigerer Ron

        THE Gambian, if you please.

  • WotsAllThisThen

    Not a problem. We’ll just reclassify the LLC as a nonprofit social welfare organization and call the sale a political speech. Then be outraged that the IRS would attack it.

  • Relativicus

    Boy, superior genetics really don’t produce like you’d think they would.

    • BosGrl

      Well, his uncle did go to MIT, so…

      • That’s the abnormality in the family

        • Komsumverweigerer Ron

          There’s always one white sheep in the worst of families.

      • Cat Cafe for the Prosecution

        My uncle was in the Bataan Death march, but I still don’t like walking much.

    • Doug Langley

      It’s like expecting Kahn Noonien Singh but getting Harry Mudd instead.

    • mancityRed6

      first, you have to start with superior genetics.

  • Resistance Fighter Callyson

    And having the two low-priced apartments actually hurts the other condo-owners by depressing the average unit value.

    Gee, investing in Trump properties is a bad move financially? Why, I’m just shocked!

    • Rick Hill

      Why, that would imply that, not only are they tax evaders but that they try to make financial gain without worry for the others who are affected

    • OneYieldRegular

      Someday when you have time on your hands, look up the history of Trump’s Panama City tower.

  • Kakariki
  • UnsaltedSinner
  • MOG253

    Real estate is complicated. #IMPEACHTRUMP

  • Indiepalin

    Why is Wonkette blackmailing the Trump family?

    • Dudleydidwrong

      Because it is there.

    • Les Appentis De la résistance

      $$

    • VirginiaWackelpudding

      Lost a bet.

  • Indiepalin

    Trump, Jr.’s real father is Rex Ryan.

    • The Wanderer

      Rex Reed.

      • Marsupial99

        Rex, T.

      • Miss Dill

        Rex Parker.

  • SayItWithWookies

    If disowning Eric retroactively is what Assmouth needs to do in order to save himself $360 grand, you know damn well his lawyers are already drafting the papers.

  • mancityRed6

    I’m not gonna scroll down far enough to see how many other people have already made the same comment, so I’m just going to make it another in a long line:
    wasn’t it the IRS that brought down Capone?

    • Doug Langley
    • William

      And he died of a social disease. There is NO WAY the Trump family can do what they did to THAT many people and not catch something. Coincidence? I think not.

      • The Wanderer

        I wasn’t aware that any of the Trumps could catch clap in a brothel.

        • H0mer0

          [silly merkin knnigetts! I fahrt in their general direction…]

      • mancityRed6

        literal fucking is not the same as what they do
        although, tRump said he never caught anything. were the tests done by the same doctor who said he was the healthiest ever?

  • Les Appentis De la résistance

    LOCK HER HIM UP!

  • JoeChristmas

    The Swindlers do this and similar scams ALL the time. It’s their business model. Shells and shuffles. He should have been jailed in the 80’s.
    Rachel did an expose about a toxic waste site property in South Carolina that they shucked and jived the state out of tax monies. The story came out the weekend before the Flynn firing. And so like like layers and layers of shit it all gets forgotten or minimized.
    It’s not easy to involved in 4000 lawsuits. Most lawyers in their career don’t break 1000.

  • William
  • JoeChristmas

    NANCY PELOSI!!1!

  • WhiskeyTangoFoxtrot

    I can just hear Dumpy in the White House just minutes after reading about this.

    “I did what? NO FUCKING WAY WOULD I GIVE THAT WORTHLESS FUCKHOLE ANY OF MY MONEY! FIRE THAT COCKSUCKER NOW!”
    “But he’s your son and anyway, he’s not on the payroll.”
    “I DON’T CARE. FIRE HIS ASS!”
    “Sir, I just explained…”
    “YOU’RE FIRED TOO! GET THE FUCK OUT!”

  • canes_pugnaces

    I wish every deplorable could attempt to rent an apartment in NYC, live in it, and deal with a NYC landlord in the process. That’d cure ’em.

  • Marsupial99

    I’m too lazy to look up the docs on CPS Apartment 13G LLC, but I’m sure it’s out there. If there are other partners/shareholders in the LLC (who aren’t named Trump, married to a Trump, ex-Trump, Trump-in-Exile, etc.) then it might not be evasion. If it’s a single-member LLC (which it probably is, since, it is a really narrow single-purpose — buying a single unit at a discount from the President of the LLC’s father), then… yeah. It’s fraud, tax evasion, sleazy, grifty, etc. In other words, business as usual.

    • Miss Dill

      Still think, unless there are tons of other partners/members in the LLC, it might have to be reported. Would depend on where profit from any sale of the condos would flow through the LLC’s books…maybe primarily to Eric or other Trump relative? Or to satisfy some obligation of a Trump using the LLC? Why else would two units be sold so much below market value? Would be interesting to follow that through all the books. (Not ashamed to say that I always liked tax accounting and tax auditing. Talk about getting to the real truth of many things…satisfied the big snoop instinct I have. : ))

  • Jan Ness

    Is it just me or does he kinda look like a vampire…like he s/b hanging out with Vampire Lestat?

    • abstract668

      And is he wearing a teensy bit of lipstick in that photo?

    • H0mer0

      It hurts me to say this but :Tom Cruise libelz!
      (I don’t like him that much, but he did a good job as Lestat and in Tropic Thunder.)

  • Angry Red Bird DGAF

    So does that mean Donnie junior got a hand out? Or is he entitled to discounts on prime real estate?

  • Jamoche

    These are not the horror stories you’re looking for:
    https://www.facebook.com/indgop/photos/a.10150239544016875.315511.54312801874/10154523183266875/?type=3&theater
    the Indiana Republican Party is looking for “Obamacare horror stories”.

    • Jerry Noneofyourbizz

      I just spent about five minutes scrolling through some of them. Only saw two negatives. One sounded legitimate, the other was so outlandish as to be total BS. All the others, probably over one hundred, were saying how Obamacare saved their lives.

  • Suttree

    Please break Betteridge’s law of headlines! (goes back to reading story)

  • NotALiar

    One more story that would bury a real President but Trump will shout “fake news” at it will go away. It always works and always will work.

  • Jerry Noneofyourbizz

    I’m sure this is the first time he’s ever done anything like this, though.

  • Riley Whodat Venable

    Thanks $5F,

    You hit it on the head. Trump’s statements, attitudes, and policies won’t be his downfall. It will be his money.

    Deep Throat said it first. Follow the money.

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