Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Difference between income tax benefit (provision) and the amount computed by applying the statutory federal income tax rate to income before taxes

The net income tax benefit differs from the amount computed by applying the statutory federal income tax rate to CTRS' income before taxes follows ($ in thousands):



	2018					2017					2016
	Amount			Rate		Amount			Rate		Amount			Rate
Federal income tax benefit (expense)	$	143		21	%	$	47		35	%	$	(1,159	)	(35	)%
State income tax benefit (expense), net of federal income tax effect	27			4	%	5			4	%	(132		)	(4	)%
Change in deferred tax assets as a result of change in tax law	—			—	%	(340		)	(254	)%	—			—	%
Valuation allowance	(174		)	(26	)%	283			211	%	1,282			39	%
Other	4			1	%	5			4	%	9			—	%
Benefit applicable to income (loss) from continuing operations	$	—		—	%	$	—		—	%	$	—		—	%

Tax effect of significant temporary differences representing deferred tax assets and liabilities

The tax effect of significant temporary differences representing deferred tax assets and liabilities of CTRS as of December 31, 2018 and 2017 are as follows (in thousands):



	2018			2017
Income from unconsolidated joint ventures	$	18		$	19
Federal and state tax carryforwards	763			590
Other	2			—
Total deferred tax assets	783			609
Valuation allowance	(783		)	(609		)
Net deferred tax asset	$	—		$	—