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Income Taxes

12 Months Ended

Dec. 31, 2020

The income tax benefit (provision) for the years ended December 31, 2020, 2019, and 2018 comprised the following (in thousands):


	Years Ended December 31,
	2020		2019		2018
Federal income taxes:
Current	$	290	$	430	$	(14)
Deferred	(18)		(20)		37
State income taxes:
Current	14		85		(1)
Deferred	(3)		(4)		7
Income tax benefit	$	283	$	491	$	29

As of December 31, 2020 and 2019, the Company had $0.5 million and $0.9 million, respectively, of net deferred tax assets representing net operating losses of the TRS that are being carried forward and basis differences in the assets of the TRS. The deferred tax assets are presented within other assets in the consolidated balance sheets.

Management has evaluated the Company’s income tax positions and concluded that the Company has no uncertain income tax positions as of December 31, 2020 and 2019. The Company is generally subject to examination by the applicable taxing authorities for the tax years 2017 through 2020. The Company does not currently have any ongoing tax examinations by taxing authorities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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