Toggle

BREAKING: Trump turned his golf empire into a billion-dollar tax shelter. Trump made about $1.4 billion from crypto in 2025, plus more than $200 million from real estate, leaving him facing a projected tax bill of over $500 million, per Forbes calculations. In December 2025, his company donated the development rights to his golf club in Jupiter, Florida, to a land trust, arguing the course was a natural habitat worth protecting. He kept owning and running the club. Forbes estimates the write-off could reach around $825 million. It’s a strategy Trump has used at least five times since 2005: Bedminster, NJ (2005): Claimed a $39 million deduction on a property he bought for $8 million. The IRS initially valued the write-off at zero before the two sides settled. Doral, FL: Claimed a deduction of up to $323 million, more than twice what he paid for the entire resort. New York and California (2014–2015): The New York attorney general alleged the Trump Organization misled appraisers to inflate both donations. A month after the Jupiter deal, Trump sued the IRS over the leak of his tax information. His own Justice Department’s settlement bars claims against him over matters that are pending or “could be pending.” Forbes argues that language could cover his 2025 taxes; Attorney General Todd Blanche told Congress it doesn’t. A federal judge ruled in July that the lawsuit was brought to manipulate the judicial process. Trump is appealing. Among the homeowners whose properties back onto the Jupiter fairways: Eric Trump, and IRS CEO Frank Bisignano, who took the job as the deal was being put together.