Trump’s Golf Courses Could Yield Billions in Tax Deductions

Published November 11, 2026. President Donald Trump has used conservation easements on some of his golf courses, a tax strategy that allows a landowner to give up development rights while retaining ownership. Forbes estimates the deductions claimed so far total about $1.2 billion, reducing his taxes by roughly $450 million.

The analysis estimates Trump may have another $3.2 billion in potential deductions available, which could lower his tax bill by about $1.2 billion. At his Doral course in Florida, Forbes says he has already claimed $323 million for 184 acres and could claim roughly $1.1 billion more. The analysis also estimates potential deductions of about $1.1 billion at his course near Washington, D.C., and $765 million in Rancho Palos Verdes, California.

The tax benefit is based on the land’s potential development value. Deductions may equal as much as half of a donor’s yearly tax liability, and unused amounts can be carried forward. They cannot be transferred to heirs. The IRS has challenged conservation-easement deductions for about two decades.

Forbes also cited Trump’s tax filings, estimating he generated $555 million in operating income from 2017 to 2020 and paid $3.1 million in federal taxes. The administration did not issue a comment after being contacted. Edward Russo, an environmental adviser who introduced Trump to the strategy in 2005, said some people in the Trump Organization opposed it.

In May, Trump and his sons dropped a lawsuit against the IRS after reaching a settlement over the disclosure of his tax returns. A separate report characterized the arrangement as providing immunity from IRS investigations; that characterization has been disputed.

Trump’s Golf-Course Tax Breaks Could Shield Billions

Published November 11, 2026. A tax strategy tied to President Donald Trump’s golf courses could reduce his tax bill by billions more, Forbes estimates. Trump has already claimed about $1.2 billion in conservation-easement deductions, which the analysis says saved him roughly $450 million in taxes.

The potential deductions are even larger: Forbes estimates another $3.2 billion could be available, potentially cutting taxes by about $1.2 billion. The estimates include roughly $1.1 billion more at Trump’s Doral course, about $1.1 billion at his course near Washington, D.C., and $765 million in Rancho Palos Verdes, California.

Conservation easements let landowners surrender development rights while keeping the property. The deduction is calculated using the land’s potential development value, and may reduce a donor’s yearly tax liability by as much as half. Unused deductions can be carried forward, though they cannot be passed to heirs. The IRS has challenged such deductions for about two decades.

Forbes calculates Trump earned $555 million in operating income from 2017 to 2020 while paying $3.1 million in federal taxes. The administration did not issue a comment after being contacted. Edward Russo, who introduced Trump to the easement approach, said it faced opposition within the Trump Organization.

Trump and his sons dropped their IRS lawsuit in May after reaching a settlement concerning disclosure of his tax returns. One account described the deal as giving them immunity from IRS investigations, a characterization that has been disputed. The scale of the potential deductions puts renewed focus on a tax system that permits substantial benefits for property owners.

Trump’s Conservation Easements Keep Golf Land From Development

Published November 11, 2026. President Donald Trump’s use of conservation easements on golf-course land could produce billions of dollars in deductions, Forbes estimates. The arrangement gives up development rights while allowing the owner to retain the property and continue operating the course.

Forbes estimates Trump has claimed about $1.2 billion in deductions so far, saving roughly $450 million in taxes, and could have another $3.2 billion in deductions available. The analysis puts potential deductions at about $1.1 billion more for Doral, roughly $1.1 billion for his course near Washington, D.C., and $765 million for Rancho Palos Verdes, California.

The deduction reflects the land’s possible development value. It may reduce a donor’s yearly tax liability by as much as half, and unused amounts can be carried forward, although deductions cannot be passed to heirs. The IRS has challenged conservation-easement deductions for roughly two decades.

Forbes also estimates Trump generated $555 million in operating income from 2017 to 2020 and paid $3.1 million in federal taxes. The administration did not issue a comment after being contacted. Edward Russo, who first suggested the approach to Trump, said not everyone inside the Trump Organization supported it.

Trump and his sons dismissed their lawsuit against the IRS in May after settling a dispute over the disclosure of his tax returns. One report described the settlement as granting immunity from IRS investigations, while that description has been disputed. The tax treatment at issue is tied to relinquishing development rights, not transferring ownership of the courses.