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Income Taxes | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The net income tax benefit differs from the amount computed by applying the statutory federal income tax rate to CTRS' income before taxes as follows ($ in thousands):
| 2022 |  | 2021 |  | 2020
| Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
Federal income tax benefit (expenses) | $ | 85 |  |  | 21 | % |  | $ | 346 |  |  | 21 | % |  | $ | 125 |  |  | 21 | %
State income tax benefit (expense), net of federal income tax effect | 16 |  |  | 4 |  |  | 66 |  |  | 4 |  |  | 24 |  |  | 4 |
Deferred tax adjustment | — |  |  | — |  |  | — |  |  | — |  |  | 21 |  |  | 4 |
Capital loss (gain) | (29) |  |  | — |  |  | (10) |  |  | — |  |  | 404 |  |  | 68 |
Valuation allowance | (60) |  |  | (15) |  |  | (346) |  |  | (26) |  |  | (586) |  |  | (98) |
Other | (12) |  |  | (10) |  |  | (56) |  |  | 1 |  |  | 12 |  |  | 1 |
Benefit applicable to net income (loss) | $ | — |  |  | — | % |  | $ | — |  |  | — | % |  | $ | — |  |  | — | %
The tax effect of significant temporary differences representing deferred tax assets and liabilities of CTRS as of December 31, 2022 and 2021 are as follows ($ in thousands):
| 2022 |  | 2021
Income from unconsolidated joint ventures | $ | 5 |  |  | $ | 27 |
Federal and state tax net operating loss carryforwards | 1,636 |  |  | 1,163 |
Federal and state tax capital loss carryforwards | 179 |  |  | 570 |
Gross deferred tax asset | 1,820 |  |  | 1,760 |
Valuation allowance | (1,820) |  |  | (1,760) |
Net deferred tax asset after valuation allowance | $ | — |  |  | $ | — |
A valuation allowance is required to be recorded against deferred tax assets if, based on the available evidence, it is more likely than not that such assets will not be realized. When assessing the need for a valuation allowance, appropriate consideration should be given to all positive and negative evidence related to this realization. This evidence includes, among other things, the existence of current and recent cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, the Company’s history with loss carryforwards, and available tax planning strategies.As of December 31, 2022 and 2021, the net deferred tax asset of CTRS equaled $1.8 million with a valuation allowance placed against the full amount. The conclusion that a valuation allowance should be recorded as of December 31, 2022 and 2021 was based on the lack of evidence that CTRS could generate future taxable income to realize the benefit of the deferred tax assets.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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