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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Net Income to REIT Taxable Income | A reconciliation of the provision for income tax attributable to the TRSs’ income from continuing operations computed at federal statutory rates to the income tax provision reported in the financial statements is as follows:
| Year Ended December 31, |  |
| 2022 |  | 2021 |  |
| (in thousands)
Income from continuing operations before income taxes for TRSs | $ | 6,128 |  | $ | 9,242 |  |
Expected federal income tax provision | $ | 1,287 |  | $ | 1,941 |  |
State income taxes | 43 |  | (40) |  |
Change in valuation allowance | 300 |  | (273) |  |
Other | (499) |  | 1,364 |  |
Income tax provision | $ | 1,131 |  | $ | 2,992 |  |
Schedule of Components of Net Deferred Tax Asset | The components of the Company’s net deferred tax asset, which are included in other assets, are as follows:
| December 31,
| 2022 |  | 2021
| (in thousands)
Deferred tax assets: |  |  |
Net operating losses | $ | 2,664 |  | $ | 2,367
Secured borrowings—government guaranteed loans | 54 |  | 64
Other | 145 |  | 153
Total gross deferred tax assets | 2,863 |  | 2,584
Valuation allowance | (2,670) |  | (2,370)
| 193 |  | 214
Deferred tax liabilities: |  |  |
Loans receivable | (71) |  | (96)
| (71) |  | (96)
Deferred tax asset, net | $ | 122 |  | $ | 118

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- Definition Tabular disclosure of the reconciliation of the reported amount of net income for the year to the amount of REIT taxable income. + References No definition available. + 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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