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Trump Paid $750 in Federal Income Taxes in 2017. Here's the Math.
https://www.nytimes.com/2020/09/29/us/trump-750-taxes.html#click=https://t.co/wMGkVSoYB4Mr. Trump’s tax bill in 2017
$7,435,857. Alternative Minimum Tax
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$7,435,107. General Business Credit
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$750. Total income
The business credit cannot be used to get a refund; it can only be applied against taxes owed. Mr. Trump had more than enough to cancel out his $7,435,857 tax bill. But on the Form 3800 for the General Business Credit, his accountants subtracted $750 from his allowable credit. Why they did that is not clear. But the result was a total federal income tax liability of $750.