7 things Trump could've purchased with the $38M he paid in taxes

Donald Trump's reluctance to release any tax returns throughout the duration of his campaign (and, subsequently, during the first few months of his presidency) has been nothing short of a focal point during the election cycle.

Though Trump's full tax returns from the past few years have still not been released to the public, details of his 2005 tax return were recently leaked from a source.

SEE ALSO: These world leaders are wealthier than President Trump

Confirmed by the White House, documents showed that Trump made more than $150 million that year and paid a whopping $38 million in taxes.

CNN Money noted that this information was based off of two pages from Trump's 1040 form — it wasn't necessarily the complete version of how much Trump made and paid, so to speak, in 2005.

$38 million is a staggering amount — even for Donald Trump, who's no stranger when it comes to living lavishly.

We decided to put into perspective just how much $38 million is by rounding up seven staggering expenses in the Trump world and seeing how many times Trump would have to pay out those expenses to end up with magic number 38 (million, of course).

Here's what we found:

7 PHOTOS
7 things Trump could've purchased with the $38M he paid in taxes
See Gallery
7 things Trump could've purchased with the $38M he paid in taxes

190 initiation fees
for Trump's Mar-a-Lago resort in Palm Beach

Cost per member initiation: $200K

Photo credit: Getty

2,715 annual memberships
to Trump's Mar-a-Lago resort in Palm Beach

Cost per membership: $14K/year

Photo credit: Getty

190 sets of diamonds
That Ivanka Trump wore to her wedding

Cost of Ivanka Trump's wedding day jewelry: $200K

Photo credit: Getty

26 engagement rings
That Donald Trump proposed to Melania with

Cost of Melania Trump's engagement ring: $1.5M

Photo credit: Getty

845 annual tuitions
To the high school that Barron Trump attends, Columbia Grammar and Preparatory School

Tuition cost: $45K/Year

Photo credit: Getty

543 annual tuitions
To the university that Tiffany Trump attended, University of Pennsylvania 

Tuition cost: $70K/year

Photo credit: Getty

10,556 Gucci jackets
That Kellyanne Conway wore to the 2017 Presidential Inauguration

Cost of jacket: $3.6K

Photo credit: Reuters 

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

A $1.5 million engagement ring for Melania seems over the top, but when you take into account that Donald could've purchased 26 versions of the same exact ring and paid the same amount that he did on his tax returns.

That seems minuscule when compared with the nearly 10,556 Gucci jackets he could've bought for Kellyanne Conway with the same amount of money.

We're not quite sure what one would do with that many Gucci jackets, but if anyone wanted to throw one our way, we wouldn't hate it.

RELATED: Criticism of report on Trump's tax returns

18 PHOTOS
Criticism of report on Trump's tax returns
See Gallery
Criticism of report on Trump's tax returns
Rachel Maddow has nothing. Fake News In fact this helps Trump. The assumption was that he paid no income tax Now we know he paid $38M
Congrats @Maddow now, Rachel Maddow has out-Geraldo'ed Geraldo Rivera. #FakeNews so dumb, Mexico just got 10 feet l… https://t.co/76cgakMw1L
Rachel Maddow just said move over @CNN let me show you what Fake News really looks like, as Geraldo yells out I thought I had that covered
Rachel Maddow (@maddow) is going to get roasted for possibly eternity for this embarrassing fake hit piece on Trump #TrumpsTaxReturns
Rachel Maddow helped uncover the fact that Trump in 05 paid roughly 10% more than Bernie Sanders did a few years ago. Thanks!
Tomorrow on Rachel Maddow: We have Trump's real birth certificate! "So, what does it say?" "Erm..American" Thank u for your #Resistance 👍🏻
Rachel Maddow is the joke of social media. @maddow
BREAKING: Tomorrow night Rachel Maddow will reveal Donald Trumps 2002 receipt from Arby's! Spoiler he likes the Beef N Cheddar! so do I 😋
So Rachel Maddow is risking jail time to "inform" Americans that Trump is really rich and probably needs a better CPA
Rachel Maddow revealing Donald Trump's 2005 tax returns was as exciting as Larry King saying "You're on the air."
Has Rachel Maddow revealed anything yet? I know the show is over, but I'm still waiting.
Rachel Maddow: Got Trump's tax returns Media: YES! Maddow: He obeys the law Media: NOOO! BOOO! Maddow is #FakeNews!! #TaxReturns #TrumpCare
Drudge: Trump paid higher tax rate [25%] than MSNBC Comcast [24%], Obama [19%], Bernie [13%]. Great reporting Rache… https://t.co/wJNZzdYuNK
Watch Rachel Maddow's brilliant take down of.. her own credibility. Only on MSNBC..
Patriots won at overtime. Hollywood ends with #Oscarfail Rachel Maddow shows the world how rich Trump is & he pays… https://t.co/yl6MOQxoKQ
Diamond and Silk react to Rachel Maddow and the "Bombshell" release of Trump's 2005 tax returns. #hannity https://t.co/FivjApqWwv
Many thanks to Rachel Maddow for proving that Trump paid even more taxes than 1%-hater Bernie!
So Trump made ~ $411,000.00 per day and paid 25% in taxes. Thanks "Rachel Maddow" for making a fool of yourself. #trumpstaxes
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

More on AOL.com:
Find out what added $31 million to President Trump's tax bill
Trump might've just gotten the ammo he needs to name China a 'currency manipulator'
10 ridiculous tax loopholes

Tax Tips for Real Estate Agents and Brokers

Most real estate agents and brokers receive income in the form of commissions from sales transactions. You're generally not considered an employee under federal tax guidelines, but rather a self-employed sole proprietor, even if you're an agent or broker working for a real estate brokerage firm. This self-employed status allows you to deduct many of the expenses you incur in your real estate sales or property management activities. Careful record keeping and knowing your eligible write-offs are key to getting all of the tax deductions you're entitled to.

Read More

Brought to you by TurboTax.com

Key Tax Tips When Filing for Divorce or Separation

Going through the process of divorce or separation is a trying time for any couple. Between dividing up property, legal proceedings and handling child custody, many people can forget the tax implications as well. You can avoid missteps with the IRS —especially if there's a breakdown in communication between spouses — by keeping in mind a few tax tips.

Read More

Brought to you by TurboTax.com

At What Income Does a Minor Have to File an Income Tax Return?

If your kids are young enough to be your dependents, they may have to pay taxes. In some cases, you may be able to include their income on your tax return; in others, they'll have to file their own tax return or you will have to file a separate return on their behalf. Whether this is required depends on both the amount and source of the minor's income.

Read More

Brought to you by TurboTax.com

Business Use of Vehicles

If you use vehicles in your small business, how and when you deduct for the business use of those vehicles can have significant tax implications. It pays to learn the nuances of mileage deductions, buying versus leasing and depreciation of vehicles. Special rules for business vehicles put in use in 2017 can deliver healthy tax savings.

Read More

Brought to you by TurboTax.com
Read Full Story