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Income Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The provision for income taxes comprises the following components:
Year ended December 31, 2023
Current federal$171 
Current state16 
Deferred federal4,776 
Deferred state1,833 
Income tax provision$6,796 
The Company recognized an income tax benefit of $7.5 million for the year ended December 31, 2022 and an income tax provision of $1.9 million for the year ended December 31, 2021 within other (expense) income on the Consolidated Statements of Operations.

A reconciliation of the statutory federal income tax rate of 21% with the Company’s effective income tax rate is as follows:
Year ended December 31, 2023
Income tax benefit computed at the federal statutory rate$(34,420)
Income tax benefit attributable to non-taxable entities16,643 
State income taxes, net of federal tax benefit(4,810)
Valuation allowance29,681 
Other(298)
Income tax provision$6,796 

Significant components of the Company's deferred tax assets and liabilities are as follows:
December 31, 2023
Deferred tax assets:
   Net operating loss and tax credit carryforwards$41,339 
   Depreciation and amortization11,124 
   Prepaid rent1,578 
   Other122 
Total deferred tax assets54,163 
Valuation allowance(29,477)
Net deferred tax assets24,686 
Deferred tax liabilities:
     Depreciation and amortization(21,170)
     Unrealized gain on non-real estate investments(4,640)
     Other(169)
Total deferred tax liabilities(25,979)
Deferred tax asset, net$(1,293)

As of December 31, 2022, the Company had recorded a net deferred tax asset of $5.3 million, consisting of gross deferred tax assets of $16.9 million and gross deferred tax liabilities of $11.6 million, within prepaid expenses and other assets, net on the Consolidated Balance Sheet. Significant components of the Company’s deferred tax assets and liabilities relate to depreciation and amortization, unrealized gains and losses on non-real estate investments and net operating loss carryforwards. As of December 31, 2022, the Company had not recorded a valuation allowance against its deferred tax assets.