Income Tax Provision

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Provision

11. Income Tax Provision

The Partnership recognizes current income tax expense for federal, state, and local income taxes incurred by the Greens Hold Co, which owns The 50/50 MF Property and certain property loans. The following table summarizes income tax expense (benefit) for the three and nine months ended September 30, 2022 and 2021:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2022			2021			2022			2021
Current income tax expense (benefit)	$	(38,980	)	$	(39,131	)	$	3,688		$	104,483
Deferred income tax benefit		(42,543	)		(42,011	)		(49,250	)		(77,681	)
Total income tax expense (benefit)	$	(81,523	)	$	(81,142	)	$	(45,562	)	$	26,802

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, 2022 and December 31, 2021.