Gift Taxes

Children

1995 As it happened, the Trumps' GRATs did not completely elude I.R.S. scrutiny. Documents obtained by The Times reveal that the I.R.S. audited Fred Trump's 1995 gift tax return and concluded that Fred Trump and his wife had significantly undervalued the a
1995 Fred Trump's 1995 gift tax return valued the Fiesta Apartments, left, in Brooklyn, at $18.30 per square foot. A similar building a few minutes away sold the next year for nearly four times as much: $67.08 per square foot.
1997 As for gift taxes, the Trumps found a way around those, too.
1997 Indeed, every $10 million reduction in the valuation of Fred Trump's empire would save the Trumps either $10 million in annuity payments or $5.5 million in gift taxes.
1997 The Trumps dodged hundreds of millions in gift taxes by submitting tax returns that grossly undervalued the properties, claiming they were worth just $41.4 million.