Mark has incurred substantial losses in his sole proprietorship as a travel agent. He recently filed for bankruptcy. As part of the

bankruptcy process, $$94,000$ of Mark's debt is forgiven. Mark has the following tax attributes:

$,$ NOL for the current year

$,$ NOL from last year

Capital loss carryforward

Adjusted basis of his business property

$($a$)$

What are the tax consequences of the forgiven debt? $($If answer is zero, please enter $0,$ do not leave any fields blank.$)$