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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Schedule of components of income tax expense (benefit) | The following represents the Company's TRS income tax benefit (expense) ($ in thousands):
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Current tax benefit (expense)(1)(2) | $ | (106) |  |  | $ | (35) |  |  | $ | (447) |
Total income tax (expense) benefit | $ | (106) |  |  | $ | (35) |  |  | $ | (447) |
_______________________________________________________________________________ (1)For the years ended December 31, 2020, 2019, and 2018, excludes a REIT tax expense of $0.1 million, $0.4 million, $0.5 million, respectively. (2)Under the Tax Cuts and Jobs Act, the alternative minimum tax credit carryforward is a refundable tax credit over a four year period beginning in 2018 and ending in 2021 upon which the full amount of the credit will be allowed. The CARES Act enacted on March 27, 2020 permits corporate taxpayers to accelerate the full amount of its alternative minimum tax credits. The Company filed a claim for refund and received a $3.0 million refund for which the benefit had been recognized in 2017.
Schedule of deferred tax assets and liabilities | Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands):
|  | As of December 31,
|  | 2020 |  | 2019
Deferred tax assets(1) |  | $ | 80,101 |  |  | $ | 79,645 |
Valuation allowance |  | (80,101) |  |  | (79,645) |
Net deferred tax assets (liabilities) |  | $ | — |  |  | $ | — |
_______________________________________________________________________________ (1)Deferred tax assets as of December 31, 2020 include temporary differences related primarily to asset basis of $26.7 million, deferred expenses and other items of $12.7 million, NOL carryforwards of $38.4 million and other credits of $2.3 million. Deferred tax assets as of December 31, 2019 include temporary differences related primarily to asset basis of $32.9 million, deferred expenses and other items of $11.9 million and NOL carryforwards of $32.5 million and other credits of $2.3 million. The Company has determined that the change in tax law associated with the Tax Cuts and Jobs Act will not have a material effect on whether its deferred tax assets are realizable.

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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