Company: BLNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004793
Chunk: 163

Company: Beeline Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 163
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 the difference between income
taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2024 and 2023 were as follows:

SCHEDULE
OF PROVISION OF INCOME TAXES

    (Dollars in thousands) 
    2024  
    2023 
  
    Expected federal income tax benefit 
    $(2,139) 
    $(1,478)
  
    State income taxes after credits 
     (1,145) 
     (497)
  
    Change in allowance 
     3,284  
     1,975 
  
    Total provision for income taxes 
    $-  
    $- 

The Company’s approximate net deferred tax assets
as of December 31, 2024 and 2023 were as follows:

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

    (Dollars in thousands) 
    2024  
    2023 
  
    Deferred tax assets 

    Net operating loss carryforwards 
    $34,853  
    $23,673 
  
    Property and equipment 
     42  
     - 
  
    Stock-based compensation 
     947  
     896 
  
    Total deferred tax assets 
     35,842  
     24,569 

    Deferred tax liability 

    Mortgage loans held for sale 
    $(57) 
    $- 
  
    Intangible assets 
     (4,709) 
     - 
  
    Equity method investment 
     (129) 
     - 
  
    Depreciation and amortization 
     (2,411) 
     (2,444)
  
    Total deferred tax liability 
     (7,306) 
     (2,444)
  
    Valuation Allowance 
     (28,536) 
     (22,125)
  
    Net deferred tax assets 
    $-  
    $- 

    F-37

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

December 31, 2024 and 2023

The gross operating loss carryforward was $85.0 million
as of December 31, 2024. The Company provided a valuation allowance equal to the net deferred income tax assets for the years ended December
31, 2024 and 2023 because it