Income taxes, continuing operations

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income taxes, continuing operations

8.Income taxes, continuing operations:

Deferred income taxes are recorded based upon differences between financial statement and tax basis amounts of assets and liabilities. The tax effects of temporary differences for continuing operations which give rise to deferred tax assets and liabilities are as follows:

	September 30, 2024			December 31, 2023
Gross deferred tax liabilities:
Property having a financial statement basis in excess of    tax basis	$	364,000		$	364,000
Accounts receivable		56,000			52,000
Insurance premiums and accrued leasing revenues		17,000			49,000
		437,000			465,000
Gross deferred tax assets:
Prepaid rent		(50,000	)		(40,000	)
Accounts payable and accrued expenses		(80,000	)		(49,000	)
Accrued property taxes		(92,000	)		(92,000	)
		(222,000	)		(181,000	)
	$	215,000		$	284,000