INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018		As of December 31, 2017
GAAP consolidated net income (loss) attributable to Five Oaks Investment Corp	12,829		$	4,707
GAAP net loss (income) from REIT operations	(12,559	)	(4,645		)
GAAP net income (loss) of taxable subsidiary	270		62
Capitalized transaction fees	(10	)	(41		)
Unrealized gain (loss)	(50	)	639
Deferred income	52		19
Tax income of taxable subsidiary before utilization of net operating losses	262		679
Utilizations of net operating losses	(262	)	(679		)
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 March 31, 2018		As of December 31, 2017
Accumulated net operating losses of TRS	269		337
Unrealized gain	238		251
Capitalized transaction costs	120		122
Deferred income	71		57
AMT Credit	—		19
Deferred tax asset (liability)	698		786
Valuation allowance	(698	)	(767	)
Net non-current deferred tax asset (liability)	—		19