Income Taxes

12 Months Ended

Oct. 31, 2024

Income Taxes [Abstract]

Income taxes

Note 9 - Income taxes:

FREIT has elected to be treated as a REIT for federal income tax purposes and as such intends to distribute at least 90% of its ordinary taxable income (to maintain its status as a REIT) to its stockholders as dividends. For the fiscal year ended October 31, 2024, FREIT has distributed 100% of its ordinary taxable income and 100% of its capital gain to its stockholders as dividends. For the fiscal year ended October 31, 2023, there was no taxable income and FREIT distributed 100% of its capital gain to its stockholders as dividends. For the fiscal year ended October 31, 2022, FREIT distributed 100% of its ordinary taxable income and 100% of its capital gain from the sale of the Maryland Properties to its stockholders as dividends. Accordingly, no provision for federal or state income taxes related to such ordinary taxable income and such gains was recorded in FREIT’s consolidated financial statements for the fiscal years ended October 31, 2024, 2023 and 2022.

As of October 31, 2024, FREIT had no material uncertain income tax positions. The tax years subsequent to and including the fiscal year ended October 31, 2021 remain open to examination by the major taxing jurisdictions.