Experts Question Tax Handling of Gifts to Clinton and Trump Charities

Tax-law experts tell The Huffington Post that millions of dollars collectively given to foundations currently or formerly led by Donald Trump and Hillary Clinton should have been reported by the presidential candidates as personal income rather than charitable gifts.

Donations given in return for a service, such as payment for a speech, must be reported as taxable income. But payments for speeches or media appearances given by the Republican and Democratic frontrunners respectively to the Donald J. Trump Foundation or the Bill, Hillary and Chelsea Clinton Foundation.

In some cases it’s unclear what the candidates reported, The Huffington Post writes. Mr. Trump has not released his tax returns. And Ms. Clinton’s returns don’t mention the more than a quarter-million dollars that Goldman Sachs paid to the Clinton Foundation in exchange for her giving a speech.