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INCOME TAXES (Tables) | 12 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
SCHEDULE OF INCOME TAX (EXPENSE) BENEFIT | The provision for the Company’s income tax (expense) benefit is comprised of the following: SCHEDULE OF INCOME TAX (EXPENSE) BENEFIT
For the years ended June 30, |  | 2025 |  | 2024
Federal |  |  |  |  |  |  |  |
Current tax benefit (expense) |  | $ | 62,000 |  |  | $ | (20,000 | )
Deferred tax (expense) benefit |  |  | (523,000 | ) |  |  | 206,000 |
Federal income tax (expense) benefit, total |  |  | (461,000 | ) |  |  | 186,000 |
State |  |  |  |  |  |  |  |
Current tax benefit (expense) |  |  | 14,000 |  |  |  | (100,000 | )
Deferred tax expense |  |  | (101,000 | ) |  |  | (3,000 | )
State income tax (expense) benefit, total |  |  | (87,000 | ) |  |  | (103,000 | )
Income tax (expense) benefit |  | $ | (548,000 | ) |  | $ | 83,000 |
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION | The provision for income taxes differs from the amount of income tax computed by applying the federal statutory income tax rate to income before taxes as a result of the following differences: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION
For the years ended June 30, |  | 2025 |  | 2024
Statutory federal tax rate |  | $ | 1,469,000 |  |  | $ | 2,644,000 |
State income taxes, net of federal tax benefit |  |  | 737,000 |  |  |  | 1,051,000 |
Dividend received deduction |  |  | 12,000 |  |  |  | 24,000 |
Perm differences |  |  | (336,000 | ) |  |  | (542,000 | )
Provision to return adjustment |  |  | 105,000 |  |  |  | (712,000 | )
Valuation allowance |  |  | (2,831,000 | ) |  |  | (2,700,000 | )
Payable true up |  |  | 182,000 |  |  |  | 320,000 |
State rate change impact |  |  | 95,000 |  |  |  | 33,000 |
Other |  |  | 19,000 |  |  |  | (35,000 | )
Income tax expense (benefit) |  | $ | (548,000 | ) |  | $ | 83,000 |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | The components of the deferred tax asset and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | June 30, 2025 |  |  | June 30, 2024 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 15,410,000 |  |  | $ | 14,512,000 |
Deferred gains on real estate sale and depreciation |  |  | 9,620,000 |  |  |  | 14,259,000 |
Capital loss carryforwards |  |  | 1,399,000 |  |  |  | 1,605,000 |
Accruals and reserves |  |  | 881,000 |  |  |  | 808,000 |
Interest expense |  |  | 6,385,000 |  |  |  | 5,157,000 |
Tax credits |  |  | 256,000 |  |  |  | 603,000 |
State taxes |  |  | 162,000 |  |  |  | 141,000 |
Intercompany interest |  |  | 2,243,000 |  |  |  | - |
Other |  |  | - |  |  |  | 110,000 |
Deferred Tax Asset before Valuation Allowance |  |  | 36,356,000 |  |  |  | 37,195,000 |
Valuation Allowance |  |  | (39,314,000 | ) |  |  | (36,484,000 | )
Deferred Tax Asset after Valuation Allowance |  |  | (2,958,000 | ) |  |  | 711,000 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Deferred gains on real estate sale and depreciation |  |  | - |  |  |  | (4,654,000 | )
Unrealized gain on marketable securities |  |  | (30,000 | ) |  |  | (291,000 | )
Intercompany interest |  |  | (1,887,000 | ) |  |  | - |
Other |  |  | (473,000 | ) |  |  | (490,000 | )
Deferred Tax Liability |  |  | (2,390,000 | ) |  |  | (5,435,000 | )
Net deferred tax liability |  | $ | (5,348,000 | ) |  | $ | (4,724,000 | )
SCHEDULE OF ESTIMATED NET OPERATING LOSSES (NOLS) | Below is the breakdown of the net operating losses for Intergroup and Portsmouth. SCHEDULE OF ESTIMATED NET OPERATING LOSSES (NOLS)
|  | Federal |  |  | State |
InterGroup |  | $ | 1,997,000 |  |  | $ | 4,405,000 |
Portsmouth |  |  | 41,378,000 |  |  |  | 69,377,000 |
|  | $ | 43,375,000 |  |  | $ | 73,782,000 |
SCHEDULE OF UNCERTAIN TAX POSITIONS | SCHEDULE OF UNCERTAIN TAX POSITIONS
Unrecognized Tax Benefits at June 30, 2024 |  | $ | 1,665,000 |
Increase in tax positions taken |  |  | - |
Decrease in tax positions taken |  |  | - |
Unrecognized Tax Benefits at June 30, 2025 |  | $ | 1,665,000 |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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