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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Components of Income Tax Benefit (Provision)
The components of the income tax provision for the years ended December 31, 2017, 2016 and 2015 are comprised of the following: 
 
Year Ended December 31,
 
2017
 
2016
 
2015
Current:
 
 
 
 
 
Federal
$
(859
)
 
$
(656
)
 
$
68

State
(344
)
 
(251
)
 
(297
)
Deferred:
 
 
 
 
 
State
10

 
(182
)
 
112

 
$
(1,193
)
 
$
(1,089
)
 
$
(117
)
Deferred Tax Assets (Liabilities)
Deferred income taxes represent the tax effect of the temporary differences between the book and tax basis of assets and liabilities. New 2017 tax reform legislation reduces the corporate tax rate to 21%, effective January 1, 2018. Consequently, our deferred income tax assets and liabilities were re-measured to reflect the reduction in the U.S. corporate income tax rate. As a result, we recorded a decrease related to the net deferred tax assets and a decrease to the associated valuation allowance.
Deferred income tax assets and liabilities include the following as of December 31, 2017 and 2016: 
 
Year Ended December 31,
 
2017
 
2016
Impairment of Real Estate
$
1,267

 
$
2,051

Other - Temporary Differences
233

 
433

Valuation Allowance
(984
)
 
(2,181
)
Total Deferred Income Tax Assets, Net of Allowance
$
516

 
$
303

Straight-line Rent
$
(40
)
 
$
(51
)
Basis Difference - Real Estate Properties
(488
)
 
(260
)
Other - Temporary Differences
(172
)
 
(186
)
Total Deferred Income Tax Liabilities
$
(700
)
 
$
(497
)
Total Net Deferred Income Tax Liabilities
$
(184
)
 
$
(194
)
Effective Income Tax Rate Reconciliation
The income tax provision pertaining to income from continuing operations of the TRSs differs from the amounts computed by applying the applicable federal statutory rate as follows for the years ended December 31, 2017, 2016 and 2015: 
 
Year Ended December 31,
 
2017
 
2016
 
2015
Tax (Provision) Benefit at Federal Rate Related to Continuing Operations
$
(1,416
)
 
$
(1,764
)
 
$
64

Change in Effective Tax Rate
(609
)
 
—

 
—

State Tax Provision, Net of Federal Benefit
(376
)
 
(462
)
 
(212
)
Non-deductible Permanent Items, Net
—

 
7

 
10

Change in Valuation Allowance
1,197

 
1,256

 
787

Other
11

 
(126
)
 
(766
)
Net Income Tax Provision
$
(1,193
)
 
$
(1,089
)
 
$
(117
)
Federal Income Tax Treatment of Common Dividends
For income tax purposes, dividends paid to the Company's common shareholders are characterized as ordinary income, capital gains or as a return of a shareholder's invested capital. For the years ended December 31, 2017, 2016 and 2015, the dividends per common share were characterized as follows:
 
2017
 
As a
Percentage
of
Distributions
 
2016
 
As a
Percentage
of
Distributions
 
2015
 
As a
Percentage
of
Distributions
Ordinary Income
$
0.6552

 
74.23
%
 
$
0.6935

 
82.53
%
 
$
0.2629

 
67.93
%
Unrecaptured Section 1250 Gain
0.1627

 
18.43
%
 
0.1130

 
13.45
%
 
0.1241

 
32.07
%
Capital Gain
0.0648

 
7.34
%
 
0.0066

 
0.78
%
 
—

 
0.00
%
Nondividend Distribution - Return of Capital
—

 
0.00
%
 
0.0272

 
3.24
%
 
—

 
0.00
%
 
$
0.8827

 
100.00
%
 
$
0.8403

 
100.00
%
 
$
0.3870

 
100.00
%