Long-concealed tax records obtained by the New York Times show President Donald Trump reported losses over a period of two decades.
The president paid $750 in federal income taxes the year he won the presidency.
In his first year in the White House, he paid another $750.
He had paid no income tax in 10 of the previous 15 years because he reported losing much more money than he made, according to the exclusive New York Times report.
When the president was asked about the New York Times report during a news briefing in the White House on Sunday afternoon, he said it was “fake news.”
Trump’s full reply is provided in the video player above.
The disclosure, which the Times said comes from tax return data it obtained extending over two decades, comes at a pivotal moment ahead of the first presidential debate Tuesday and weeks before a divisive election.
A lawyer for the Trump Organization, Alan Garten, and a spokesperson for the Trump Organization did not immediately respond to a request for comment from The Associated Press on the report.
Garten told the Times that “most, if not all, of the facts appear to be inaccurate.”
He said in a statement to the news organization that the president “has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015.”