Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of 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 as follows ($ in thousands):


	2023				2022				2021
	Amount		Rate		Amount		Rate		Amount		Rate
Federal income tax benefit (expense)	$	(149)	21	%	$	85	21	%	$	346	21	%
State income tax benefit (expense)	(28)		4	%	16		4	%	66		4	%

Tax impact of capital loss carryforward	(28)		—	%	(29)		—	%	(10)		—	%
Valuation allowance	1		—	%	(60)		(15)	%	(346)		(26)	%
Other	30		—	%	(12)		(10)	%	(56)		1	%
Tax expense before utilization of net operating loss carryforward	$	(174)	25	%	$	—	—	%	$	—	—	%
Utilization of net operating loss carryforward	174		(25)	%	—		—	%	—		—	%
Benefit applicable to income (loss) from continuing operations	$	—	—	%	$	—	—	%	$	—	—	%

Schedule of 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, 2023 and 2022 are as follows ($ in thousands):


	2023		2022
Income from unconsolidated joint ventures	$	31	$	5
Federal and state tax net operating loss carryforwards	1,462		1,636
Federal and state tax capital loss carryforwards	152		179

Gross deferred tax asset	1,645		1,820


Valuation allowance	(1,645)		(1,820)
Net deferred tax asset after valuation allowance	$	—	$	—