Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 185

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 7A
Chunk 185
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 This was an increase of $2,830,000 from June 30, 2024.

As
of June 30, 2025, the Company had net operating loss carryforwards (“NOL”) available for carryforward of approximately $44,375,000
and $73,782,000 for federal and state purposes, respectively. Of the $43,375,000 federal NOL carryforwards, $14,707,000 expire in varying
amounts through 2037 and $28,668,000 of post-2017 NOLs can be carried forward indefinitely. Note that the post-2017 NOLs may only offset
80% of future taxable income. The Company had capital loss carryforwards of $4,913,000 for federal and state purposes. The capital losses
begin to expire in 2025 for both federal and state purposes. There are immaterial California state tax credits of $257,000 which expire
in various years.

As
of June 30, 2024, the Company had net operating loss carryforwards (“NOL”) available for carryforward of approximately $43,396,000
and $63,131,000 for federal and state purposes, respectively. Of the $43,396,000 federal NOL carryforwards, $14,707,000 expire in varying
amounts through 2037 and $28,689,000 of post-2017 NOLs can be carried forward indefinitely. Note that the post-2017 NOLs may only offset
80% of future taxable income. The Company had capital loss carryforwards of $6,814,000 for federal and state purposes. The capital losses
begin to expire in 2024 for both federal and state purposes. There are immaterial California state tax credits of $603,000 which expire
in various years.

Below
is the breakdown of the net operating losses for Intergroup and Portsmouth.

SCHEDULE OF ESTIMATED NET OPERATING LOSSES (NOLS)  

    Federal  
    State 
  
    InterGroup 
    $1,997,000  
    $4,405,000 
  
    Portsmouth 
     41,378,000  
     69,377,000 

    $43,375,000  
    $73,782,000 

    58

Utilization
of certain tax attributes may be subject a substantial annual limitation if it should