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Income Tax Provision
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes

21. Income Taxes

The Partnership recognizes current income tax expense for federal, state, and local income taxes incurred by the Greens Hold Co, which owned The 50/50 MF Property until December 2022, and also owns certain property loans and real estate. The following table summarizes income tax expense (benefit) for the three and nine months ended September 30, 2024 and 2023:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Current income tax expense (benefit)

 

$

(1,016

)

 

$

7,275

 

 

$

(5,222

)

 

$

15,539

 

Deferred income tax expense (benefit)

 

 

(951

)

 

 

(1,103

)

 

 

1,271

 

 

 

(3,158

)

Total income tax expense (benefit)

 

$

(1,967

)

 

$

6,172

 

 

$

(3,951

)

 

$

12,381

 

The Partnership evaluated whether it is more likely than not that its deferred income tax assets will be realizable. There was no valuation allowance recorded as of September 30, 2024 and December 31, 2023.