Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense for the years ended December 31, 2016, 2015, and 2014 are as follows:



	2016							2015							2014
	Federal			State		Total		Federal			State		Total		Federal		State		Total
Current	$	130		$	71	$	201	$	1,244		$	601	$	1,845	$	554	$	193	$	747
Deferred	—			—		—		—			—		—		—		—		—
Income tax provision from continuing operations	$	130		$	71	$	201	$	1,244		$	601	$	1,845	$	554	$	193	$	747
Income tax provision from discontinued operations	$	(1	)	$	268	$	267	$	(1,114	)	$	2,058	$	944	$	8,660	$	3,166	$	11,826

Schedule of Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows:



	2016			2015
Net operating loss	$	—		$	—
Deferred income	—			—
Basis difference on investment in unconsolidated entities (a)	73,228			71,515
Depreciation expense	—			—
Miscellaneous	—			—
Total deferred tax assets	73,228			71,515
Less: Valuation allowance	(73,228		)	(71,515		)
Net deferred tax assets	—			—
Deferred tax liabilities	$	—		$	—

(a) Primarily relates to the basis difference in land of a non-core land development held by DRV.

Nature of Common Distributions Paid

A summary of the average taxable nature of the Company’s common distributions paid for each of the years in the three year period ended December 31, 2016 is as follows:



	For the year ended December 31,
	2016		2015		2014
Ordinary income	$	0.08	$	0.24	$	0.44
Capital gain	0.24		—		—
Return of capital	0.15		2.69		0.06
Total distributions per share	$	0.47	$	2.93	$	0.50