Income Tax Provision

3 Months Ended

Mar. 31, 2023

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 owned The 50/50 MF Property until December 2022, and also owns certain property loans. The following table summarizes income tax expense (benefit) for the three months ended March 31, 2023 and 2022:

	For the Three Months Ended March 31,
	2023			2022
Current income tax expense	$	8,340		$	7,644
Deferred income tax expense (benefit)		(982	)		7,266
Total income tax expense	$	7,358		$	14,910

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 March 31, 2023 and December 31, 2022.