Income taxes, continuing operations

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income taxes, continuing operations

6. 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:

	March 31, 2019			December 31, 2018
Gross deferred tax liabilities:
Property having a financial statement basis in excess    of tax basis	$	365,000		$	364,000
Insurance premiums and accrued leasing revenues		31,000			25,000
		396,000			389,000
Less deferred tax assets		(90,000	)		(51,000	)
	$	306,000		$	338,000