Trump blasts report on his business losses, calls accounting a 'sport'

U.S. President Donald Trump defended himself on Wednesday following a media report that said his businesses had lost more than $1 billion from 1985 to 1994, saying he had leeway with his taxes as a real estate developer. The report, published in the New York Times on Tuesday, detailed how his core businesses of casinos, hotels and apartment buildings had lost $1.17 billion over a decade, allowing him to avoid paying income taxes for eight of those 10 years. Trump said he was allowed massive tax write-offs for depreciation and many "non monetary" losses, adding the report contained "very old information." "You always wanted to show losses for tax purposes ... almost all real estate developers did - and often re-negotiate with banks, it was sport," Trump said in a post on Twitter on Wednesday.

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