A New Report Says Jared Kushner Likely Paid Almost No Federal Income Taxes for Years

And he’s worth more than $320 million, according to the New York Times.

Olivier Douliery/Zuma

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Jared Kusher, White House senior advisor and President Donald Trump’s son-in-law, appears to have paid little to no federal income tax between 2009 and 2016. For a new investigation, reporters for the New York Times reviewed more than 40 pages of confidential financial documents and laid out their theory on how this happened.

Kushner Companies has spent decades buying real estate, allowing Kushner to grow his net worth to more than $300 million. The confidential financial documents reviewed by the Times indicate that Kushner used a depreciation tax benefit that allows real estate investors to deduct a part of the cost of their buildings on their taxable incomes. For example, in 2015 Kusher raked in a $1.7 million salary, but reported an $8.3 million loss based on the depreciation of the company’s real estate. But, according to the New York Times, those losses were only on paper:

In theory, the depreciation provision is supposed to shield real estate developers from having their investments whittled away by wear and tear on their buildings. In practice, though, the allowance often represents a lucrative giveaway to developers like Mr. Trump and Mr. Kushner.

The report comes on the heels of another bombshell story about how the Trump family managed to protect its riches from taxes. The investigation found that President Trump and his family “engaged in outright tax fraud.” However, the strategy Kushner apparently employed is perfectly legal. 

A spokesman for Kushner’s lawyer told the Times he would not comment on assumptions made about the documents, and that Kushner “properly filed and paid all taxes due under the law and regulations.”

TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

payment methods

TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate