Trump Warns of Big Losses From Asset Sales During Property Slump
(Bloomberg) -- The timing couldn’t be worse for Donald Trump as he faces the prospect of having to sell property to cover a massive verdict against him. Most Read from BloombergHow Much Wealth You Need to Join the Richest 1% Around the WorldApple to Wind Down Electric Car Effort After Decadelong...
The timing couldn’t be worse for Donald Trump as he faces the prospect of having to sell property to cover a massive verdict against him.
The former president said in a court filing Wednesday he may soon need “to raise capital under exigent circumstances” to push ahead with an appeal New York state’s $454 million civil fraud verdict against him. A brutal market for many commercial property owners means he faces significant losses in his real estate empire if he unloads assets.
Huge taxable gain since the taxable base very low and normally the base is transferred to another property purchase but not in this case.
