INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Taxable Income Reconciliation

The following table reconciles the Company’s TRS GAAP net income (loss) to taxable income (in thousands):

	As of September 30, 2017		As of December 31, 2016
GAAP consolidated net income (loss) attributable to Five Oaks Investment Corp	(4,184	)	$	(7,990	)
GAAP net loss (income) from REIT operations	3,981		6,654
GAAP net income (loss) of taxable subsidiary	(203	)	(1,336		)
Capitalized transaction fees	(31	)	(41		)
Unrealized gain (loss)	597		1,964
Deferred income	(1	)	204
Tax income of taxable subsidiary before utilization of net operating losses	362		791
Utilizations of net operating losses	(362	)	(791		)
Net tax income of taxable subsidiary	—		$	—

Schedule of Deferred Tax Assets

The TRS has a deferred tax asset on which the Company has a 100% valuation allowance, comprised of the following (in thousands):

	As of September 30, 2017		As of December 31, 2016
Accumulated net operating losses of TRS	620		758
Unrealized gain	354		127
Capitalized transaction costs	184		196
Deferred income	77		77
AMT Credit	12		12
Deferred tax asset (liability)	1,247		1,170
Valuation allowance	(1,247	)	(1,170	)
Net non-current deferred tax asset (liability)	—		—