United States President Donald Trump lost US$1.17 billion (NZ$1.8 billion) between 1985 and 1994, his leaked income tax returns show, according to a report.
The New York Times says it's obtained a decade worth of tax returns from Trump's Internal Revenue Service (IRS) tax transcripts.
- Michael Cohen takes parting swipe at President Donald Trump on way to jail
- Donald Trump's true character, according to Michael Cohen
- Donald Trump's ex-lawyer Michael Cohen jailed
"Though the information does not cover the tax years between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career," the New York Times says.
Trump has previously refused to release his taxes, but the report shows the president has lost more money than any taxpayer in the country.
"His core business losses in 1990 and 1991 - more than $250 million each year - were more than double those of the nearest taxpayers in the IRS information for those years," reports the New York Times.
"While The Times did not obtain the president's actual tax returns, it received the information contained in the returns from someone who had legal access to it."
However, Charles J Harder, the president's lawyer, said in a statement to The Times the figures were "demonstrably false".
"The president's tax returns and business from 30 years ago are highly inaccurate."
The transcripts were not accurate, especially before electronic filing was introduced, Harder told The Times.