Donald Trump has no idea how to post bond in the fraud trialāand heās absolutely losing it.
In just shy of a week, Donald Trumpās $454 million judgment from his New York bank fraud trial will become collectible, either by way of liquid cash or financial assetsāand it has officially sent Trump into meltdown mode.
The notoriously sleep-deprived GOP presidential nominee spent the better part of Monday night shouting into the void about the massive, half-billion-dollar judgment and his apparentĀ inability to pay it off, bemoaning being required to follow the law before being allowed to appeal the case.
āI would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!ā Trump posted Tuesday morning.
āI shouldnāt have to put up any money, being forced by the Corrupt Judge and AG, until the end of the appeal. Thatās the way system works!ā he added, forgetting that heās being held to the same standards as every private citizen.
Its possible at a firesale value it could end up being a capital loss. There wouldnāt be any taxes then.
But youād need a legit appraisal to even know if itās a loss, his appraisals are worthless
You donāt need any appraisal. You only need to know the purchase price and the selling price. The difference between them is the gain or loss.
Oh, youāre right. Whoops.
By that logic no one has ever paid taxes selling a used carā¦
They havenāt. The buyer only pay sales tax, and the seller pays no tax at all. Except maybe crazy situations where itās a collectible antique thatās worth way more now than when you bought it.