In the spring of 2016, Eric Trump got a great deal from his father.
He bought two previously unsold condominium apartments at Trump Parc East for just $350,000 each, about half of the price they had recently been listed for.
But they might not have been taxed that way, tax experts said, because of advantages available only to real estate developers.
If he had simply given the apartment to Eric for free, Trump could have incurred up to 40 percent tax on its market price.
But the sale for $350,000 could have been arranged to look like a “fair market sale” and not a gift.
Without the president’s tax returns, we might never know if Trump reported the $350,000 sales to Eric as gifts.
The president’s two oldest sons, Eric and Donald Trump Jr., are now in charge of selling the 14 remaining apartments in the building owned by the Trump Organization. »