INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019		As of March 31, 2018
GAAP consolidated net income (loss) attributable to Five Oaks Investment Corp	1,411		12,829
GAAP net loss (income) from REIT operations	(1,311	)	(12,559	)
GAAP net income (loss) of taxable subsidiary	100		270
Capitalized transaction fees	(10	)	(10	)
Unrealized gain (loss)	380		(50	)
Deferred income	—		52
Tax income (loss) of taxable subsidiary before utilization of net operating losses	470		262
Current state tax expense	(102	)	—
Utilizations of net operating losses	(68	)	(262	)
Net tax income of taxable subsidiaries	300		—

Schedule of Deferred Tax Assets

The TRS has a deferred tax asset, comprised of the following (in thousands):

	As of March 31, 2019	As of December 31, 2018
Accumulated net operating losses of TRS	297	263
Unrealized (gain) loss	417	245
Capitalized transaction costs	133	112
Deferred tax asset (liability)	847	620