Michael Cohen told Congress in February
that Donald Trump cooked the books on his company’s tax documents. Trump wouldn’t turn over those documents, but ProPublica reporter Heather Vogell found some of them anyway. Trump reported on tax forms that his company spent more than $740,000 on property insurance for its
building at 40 Wall St. in 2017. But on loan documents, Trump reported
that the company spent significantly less on property insurance for the building that year. The $287,000 discrepancy made the building appear more profitable to the lender and less profitable to the officials who calculated the building’s property tax. Trump reported conflicting
information about the occupancy rate at 40 Wall St. Tax experts told us
that lenders see more steeply rising occupancy level as a sign of “leasing
momentum,” which could make a property appear more valuable. Find out more about these discrepancies and others we found in Trump’s tax documents at ProPublica.org.