Trump defends tax tactics after NYT story says he racked up $1 billion in losses: 'It was sport'

President Donald Trump

Joshua Roberts | Reuters

President Donald Trump on Wednesday fired back at The New York Times over the newspaper's investigative report that said his tax figures from 1985 through 1994 showed staggering business losses of more than $1 billion.

"You always wanted to show losses for tax purposes....almost all real estate developers did – and often re-negotiate with banks, it was sport," Trump said in a pair of early morning tweets. "Additionally, the very old information put out is a highly inaccurate Fake News hit job!"

The Times published the report Tuesday night. Trump has refused to release his tax returns, citing an ongoing IRS audit, and deviating from more than four decades of presidential tradition.

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