TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2021

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended
	December 31,
	2021		2020		2019
	(in thousands)
Financial statement (“book”) net income (loss)	$	(2,700)	$	1,425	$	6,547
Book/Tax differences from depreciation		4,492		5,426		(10,177)
Book/Tax differences on tax free exchanges		1,181		1,201		1,223
Book/Tax differences from Investment Properties		(87)		(69)		1,624
Increase in prepaid rent and allowances		(46)		936		1,226
Business interest limitation		—		—		1,596
Other items		1,216		(341)		—
Taxable income	$	4,056	$	8,578	$	2,039