The 15,000-word Times report contradicts Trump's portrayal of himself as a self-made billionaire who started with just a $1-million loan from his father. The Times says Trump and his father, Fred, avoided gift and inheritance taxes by setting up a sham corporation and undervaluing assets to tax authorities. New York state tax department reviewing allegationsThe White House dismissed the report as a "misleading attack against the Trump family by the failing New York Times." A photo of the president's late father, Fred Trump, sits behind him as he gives an interview to Reuters in the Oval Office in February. The Times report says documents it reviewed show that the future president was earning $200,000 a year in today's dollars at the age of 3.

Source: CBC News October 02, 2018 22:07 UTC