Actually I'm looking at it from the standpoint of Donald Trump, Gangster and pathological liar, and wondering if there is a form 709 for tax year 2016 with the Eric Trump gift listed on it, and how a group of 17 attorneys including money laundering experts, tax experts, and prosecutors might look at that filing if there is no form 709 with the name Eric Trump as a recipient on it. It is implied by the O.P. that because of the way the transaction was treated in 2016 State and local filings, there is likely no such 709 form in the 2016 filing with the transaction characterized as a gift.
Its doubtful Trump would face a fraud charge for failure to file form 709 on the gift. He'd just have to correct his filing, but if he tried to claim a loss on the transaction rather than characterizing it as gift, he could be in hot water up to his little dick. If his tax "advisor" were to testify under oath that they advised Trump to file a 709 on the transaction, but Trump told them to characterize the transaction otherwise, then he could be in hot water up to his arm pits.
The properties were not owned by Donald and sold to Eric. From what I have read so far, that is not correct.
Again, you are looking at it totally from your laymen perspective. A laymen that doesn't have what is most likely hundreds if not thousands of entities domiciled or incorporated all over the world with a team of CPAs and lawyers. A laymen that doesn't own billions in RE assets.
The properties where transferred from one entity to another entity. Why did that happen? Is Donald Trump a member of both LLCs? Just because Donald is manager of one entity and Eric is the manager of the other entity doesn't mean that Donald isn't a member of both entities. Besides the manager can be replaced. Just replace Donald as the manager and boom there you go. Donald could be the majority member of both entities regardless of who is the manager. Donald could be the 55% member of both entities. The membership structure in both entities could be identical. It is very possible that Donald was the manager of many LLCs and had to replaced as the manager when he became president. Perhaps the low selling price really wasn't a selling price but the properties were transferred at the cost basis to another entity. There are a ton of potential legitimate reasons for the properties to be transferred from one entity to another. I can list some of them for you if you wish.
The article assumes and probably falsely that Donald sold the properties to Eric. All that is known is that the properties were transferred from one entity to another.
None of the above is even apparently crossing your mind due to you blatant ignorance.
Why does it have to be a gift?
Furthermore, according to the article the properties were not owned by Donald. They were owned by a company. It was owned by a LLC and trasferred to another LLC.
Again, this is a great example of a completely ignorant journalist writing an article that they know nothing about and implying that something nefarious happened. In other words, the author is just completely making shit up and so are you.
At this point, this is simply a conspiracy theory.
I didn't waste my time reading the article. I just read some of the post.
However, the following is completely misleading: "but two months before the sale to Eric Trump’s LLC".
It is not Eric Trump's LLC. That is not what any person with any knowledge of LLCs would state. A person would state that Eric is the managing member. Who are the members of the LLC and at what are the member's percentages? Also, Eric may now be the managing member of all of the Trump Org entities. Does that mean that they are now all his entities and he owns all of Trump real estate? No, it does not.
It is probably advisable that you stop making comments regarding RE transactions.
