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TAXABLE INCOME AND TAX BASIS (Details) - USD ($) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
TAXABLE INCOME AND TAX BASIS |  |  |  |  |  |  |  |  |  |  |
Excess amount of statement income over taxable income |  |  |  |  |  |  |  |  | $ 4,508,000 |  |
Excess amount of cumulative statement basis over cumulative taxable basis | $ 5,311,000 |  |  |  |  |  |  |  | 5,311,000 |  |
Excess amount of statement income from joint venture investments over taxable income |  |  |  |  |  |  |  |  | 1,688,000 |  |
Reconciliation of GAAP net income to taxable income |  |  |  |  |  |  |  |  |  |  |
Financial statement ("book") net income | $ 1,898,513 | $ 1,383,979 | $ 1,764,244 | $ 1,500,516 | $ 1,576,877 | $ 660,329 | $ 53,326 | $ 1,878,558 | 6,547,252 | $ 4,169,090 | $ 6,937,931
Book/Tax differences from depreciation and amortization |  |  |  |  |  |  |  |  | (10,177,000) | (4,675,000) | (3,097,000)
Book/Tax differences on tax free exchanges |  |  |  |  |  |  |  |  | 1,223,000 | 1,087,000 | 1,344,000
Book/Tax differences from Investment Properties |  |  |  |  |  |  |  |  | 1,624,000 | 313,000 |
Increase (Decrease) in prepaid rent and allowances |  |  |  |  |  |  |  |  | 1,226,000 | 234,000 | 253,000
Business Interest Limitation |  |  |  |  |  |  |  |  | 1,596,000 | 3,713,000 |
Taxable net income |  |  |  |  |  |  |  |  | $ 2,039,000 | $ 4,841,000 | $ 5,438,000

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