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TAXABLE INCOME AND TAX BASIS (Details) - USD ($) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018
TAXABLE INCOME AND TAX BASIS |  |  |  |  |  |  |  |  |  |  |
Excess amount of statement income over taxable income |  |  |  |  |  |  |  |  | $ 7,153,000 |  |
Excess amount of cumulative statement basis over cumulative taxable basis | $ 7,332,000 |  |  |  |  |  |  |  | 7,332,000 |  |
Excess amount of statement income from joint venture investments over taxable income |  |  |  |  |  |  |  |  | 1,476,000 |  |
Reconciliation of GAAP net income to taxable income |  |  |  |  |  |  |  |  |  |  |
Financial statement ("book") net income | $ (970,022) | $ (439,284) | $ 1,465,051 | $ 1,368,783 | $ 1,898,513 | $ 1,383,979 | $ 1,764,244 | $ 1,500,516 | 1,424,528 | $ 6,547,252 | $ 4,169,090
Book/Tax differences from depreciation and amortization |  |  |  |  |  |  |  |  | 5,426,000 | (10,177,000) | (4,675,000)
Book/Tax differences on tax free exchanges |  |  |  |  |  |  |  |  | 1,201,000 | 1,223,000 | 1,087,000
Book/Tax differences from Investment Properties |  |  |  |  |  |  |  |  | (69,000) | 1,624,000 | 313,000
Increase (Decrease) in prepaid rent and allowances |  |  |  |  |  |  |  |  | 936,000 | 1,226,000 | 234,000
Business interest limitations |  |  |  |  |  |  |  |  |  | 1,596,000 | 3,713,000
Other items |  |  |  |  |  |  |  |  | (341,000) |  |
Taxable net income |  |  |  |  |  |  |  |  | $ 8,578,000 | $ 2,039,000 | $ 4,841,000

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