Trump's tax nightmare

President-elect Donald Trump’s unwillingness to give up his far-flung real estate empire by selling it off or giving it outright to his children may be driven by a factor he has yet to mention publicly: a potentially staggering tax bill triggered by such a transaction.

“It could be billions,” said David Herzig, a tax law professor at Valparaiso University. “People are saying, ‘Oh well, don’t worry,’ but you could be looking at the potential of billions of dollars in tax liability.”