TAXABLE INCOME AND TAX BASIS (Tables)

12 Months Ended

Dec. 31, 2024

TAXABLE INCOME AND TAX BASIS

Schedule of reconciliation of GAAP net income to taxable income

	For the year ended
	December 31,
	2024		2023		2022
	(in thousands)
Financial statement (“book”) net income (loss)	$	15,662	$	8,454	$	3,723
Book/Tax differences from depreciation		3,610		(2,300)		4,160
Book/Tax differences from Investment Properties		104		351		1,258
Increase in prepaid rent and allowances		435		732		554
Other items		1,291		2,752		1,273
Taxable income	$	21,102	$	9,989	$	10,968