INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 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 March 31, 2017		As of December 31, 2016
GAAP consolidated net income (loss) attributable to Five Oaks Investment Corp	2,369		$	(10,426	)
GAAP net loss (income) from REIT operations	(2,304	)	9,090
GAAP net income (loss) of taxable subsidiary	65		(1,336		)
Capitalized transaction fees	(10	)	(41		)
Unrealized gain (loss)	184		1,964
Deferred income	(3	)	204
Tax income of taxable subsidiary before utilization of net operating losses	236		791
Utilizations of net operating losses	(236	)	(791		)
Net tax income of taxable subsidiaries	—		$	—

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 March 31, 2017		As of December 31, 2016
Accumulated net operating losses of TRS	668		758
Unrealized gain	197		127
Capitalized transaction costs	192		196
Deferred income	76		77
AMT Credit	12		12
Deferred tax asset (liability)	1,145		1,170
Valuation allowance	(1,145	)	(1,170	)
Net non-current deferred tax asset (liability)	—		—