The Trump tax loophole - the 1993 Bill Clinton Tax Plan
WIKILEAKS DNC2 28014 - from a quick sweep it looks like passive-loss relief was a core component of Bill Clinton’s 1993 tax plan
https://wikileaks.org/dnc-emails/emailid/28014
RE: WaPo: Trump’s income tax returns once became public. They showed he didn’t pay a cent.
From: BrinsterJ@dnc.org
To: GrahamC@dnc.org, MillerL@dnc.org, DillonL@dnc.org, BauerN@dnc.org, robertske@dnc.org, SargeM@dnc.org
Date: 2016-05-20 14:19
Subject: RE: WaPo: Trump’s income tax returns once became public. They showed he didn’t pay a cent.
I know very little about this, but from a quick sweep it looks like passive-loss relief was a core component of Bill Clinton’s 1993 tax plan:
[...]
Chicago Sun-Times:
Last year, Bentsen's Senate Finance Committee approved a change in the passive-loss system designed to provide partial tax-relief to property owners - and new buyers - who are "active participants" in real estate trades or businesses. Basically, the plan allowed such owners to escape the clutches of passive-loss treatment, and to write off losses from their real estate against net income derived from real estate.
Guess what ended up in Bill Clinton's tax package? You got it: The very passive-loss relief plan that sailed through Bentsen's committee.
[...]
