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A comment on Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance. Parent comment

Re:Trump’s Taxes Show Chronic Losses and Years of Income Tax... by cm2187 on Sunday September 27, 2020 @09:01PM (#24611747)
Commercial real estate loans are often non recourse. You lend to the holding company who owns the property. If it fails you don’t necessarily have a claim on the owners of that company.

And I would expect covid to have decimated the value of commercial real estate, particularly hotels.

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Re:Trump’s Taxes Show Chronic Losses and Years of Income Tax... by kthejoker2 on Sunday September 27, 2020 @09:43PM (#24612091)
Nope, we're talking about personal loans, personally guaranteed by him. No intermediary, no holding company.
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Re:Trump’s Taxes Show Chronic Losses and Years of Income Tax... by ENOTTY on Sunday September 27, 2020 @09:37PM (#24612048)
This is briefly discussed in the NYT article. Apparently some of the loans are borrowed against his personal holdings.
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Re:Trump’s Taxes Show Chronic Losses and Years of Income Tax... by cm2187 on Monday September 28, 2020 @06:30AM (#24615116)
That may be the case but I would be surprised the NYT would know, unless they have seen the terms of the loan.
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Re:Trump’s Taxes Show Chronic Losses and Years of Income Tax... by digitaltrees on Tuesday September 29, 2020 @04:25PM (#24632527)
No. Recourse loans are listed on tax filings separately from non-recourse. The personal guarantee means it shows up on personal income statements. So no other records are needed.
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Re:Trump’s Taxes Show Chronic Losses and Years of Income Tax... by jshaqaw on Monday September 28, 2020 @09:03AM (#24616176)
Because it's so easy to play asset stripping games, personal guarantees are very common in the commercial real estate world.
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