Donald Trump tax returns: president paid $38m in 2005, leaked document reveals – live

3.13am GMT

That’s all for the blog tonight. We’re closing out with analysis from the Guardian’s Washington correspondent, David Smith, who has delved into the question raised on Rachel Maddow’s show about whether Trump was behind the leak of his tax return.

It would be a classic Trump tactic to deflect attention from his troubles with wire-tapping claims and replacing the healthcare law, also known as Obamacare. But it would also be a risky one, driving attention back to the issue of why he is the first president in 40 years to refuse to release his tax returns. This is the man who, when in the first presidential debate Clinton suggested he doesn’t pay federal income taxes, interjected: “That makes me smart.”

Trump claims he cannot release his taxes while he is under audit. Yet he did so on Tuesday night in the White House’s preemptive statement. Zac Petkanas, a senior adviser to the Democratic National Committee, said: “The White House’s willingness to release some tax information when it suits them proves Donald Trump’s audit excuse is a sham. If they can release some of the information, they can release all of the information.

Related: Hot air and intrigue: did Donald Trump leak his own tax return?

2.45am GMT

The Guardian’s previous reporting has also raised questions about what Donald Trump could be hiding regarding his wealth – another reason why he may want to keep his tax returns secret.

Although on the campaign trail he claimed he is worth more than $10bn, a 2012 statement filed to the Securities and Exchange Commission by Wells Fargo Securities on behalf of Trump suggested he was then worth less than half of that:

In the document, which concerned the securitization of commercial mortgages on properties including Trump Tower in New York City, Trump was described as being worth more than $4.2bn, with liquid assets of more than $250m…

While $250m is a large amount of money, it is nowhere near enough to finance a modern presidential campaign. Trump has already loaned between $43m and $50m to his campaign, raising questions about how much he can afford to continue to spend without selling off assets or taking on significant loans.

Related: SEC document shows Trump was worth less than half of $10bn claim in 2012

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Hot air and intrigue: did Donald Trump leak his own tax return?

It would be a classic Trump tactic to deflect attention from his troubles with wire-tapping claims and replacing the healthcare law – but it would also be risky

At 7.44pm ET Brian Fallon, former press secretary to Hillary Clinton, tweeted breathlessly: “The holy grail.”

Ninety-eight minutes and a somewhat anticlimactic Rachel Maddow Show later, Fallon tweeted again: “Dems should return focus to Trumpcare tomorrow & the millions it will leave uninsured, not get distracted by two pages from ’05 tax return.”

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A woman has singed hair and a blackened face after her battery-operated headphones exploded mid-flight from Beijing to Melbourne.

The Australian woman had been sleeping on the plane on 19 February when she heard a loud explosion about two hours into the flight and felt her face burning.

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Trump had to pay millions due to tax law he aims to abolish, leaked return shows

A section of the president’s 2005 tax return revealed that about 85% of what he paid the IRS was incurred due to ‘alternative minimum tax’

Donald Trump’s leaked tax return reveals that the businessman had to pay tens of millions of dollars in a single year because of a tax rule that he has specifically promised to abolish as president.

A two-page section of Trump’s tax return for 2005, which was published by MSNBC late on Tuesday, revealed that the president paid $38m in federal taxes on more than $150m in income in 2005.

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