‘Did it for sport? Isn’t that tax fraud?’ The internet busts Trump’s possibly felonious excuse for $1 billion losses
President Donald J. Trump arrives at the Memorial Amphitheater during the 149th annual Department of Defense (DoD) National Memorial Day Observance. (DoD Photo by U.S. Army Sgt. James K. McCann)

President Donald Trump angrily insisted he reported staggering business losses to avoid paying higher taxes -- and numerous other social media users wondered if he'd accidentally admitted to a felony.

Trump pushed back against bombshell reporting by the New York Times, which obtained a decade's worth of his tax returns from more than two decades ago showing he lost more than $1 billion.

Other Twitter users were amazed the president defended himself by possibly confessing to a crime.