Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 503

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 503
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 $14,512,000 
  
    Deferred gains on real estate sale and depreciation 
     9,620,000  
     14,259,000 
  
    Capital loss carryforwards 
     1,399,000  
     1,605,000 
  
    Accruals and reserves 
     881,000  
     808,000 
  
    Interest expense 
     6,385,000  
     5,157,000 
  
    Tax credits 
     256,000  
     603,000 
  
    State taxes 
     162,000  
     141,000 
  
    Intercompany interest 
     2,243,000  
     - 
  
    Other 
     -  
     110,000 
  
    Deferred Tax Asset before Valuation Allowance 
     36,356,000  
     37,195,000 
  
    Valuation Allowance 
     (39,314,000) 
     (36,484,000)
  
    Deferred Tax Asset after Valuation Allowance 
     (2,958,000) 
     711,000 
  
    Deferred tax liabilities: 

    Deferred gains on real estate sale and depreciation 
     -  
     (4,654,000)
  
    Unrealized gain on marketable securities 
     (30,000) 
     (291,000)
  
    Intercompany interest 
     (1,887,000) 
     - 
  
    Other 
     (473,000) 
     (490,000)
  
    Deferred Tax Liability 
     (2,390,000) 
     (5,435,000)
  
    Net deferred tax liability 
    $(5,348,000) 
    $(4,724,000)

Management
considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. As of
June 30, 2025, it has been determined that it is more likely than not that the deferred tax asset will not be recognized. Thus, there
is a valuation allowance of $39,314,000 as of June 30, 2025. This was an increase of $2,830,000 from June 30, 2024.

As
of June 30, 202