Change the facts in the preceeding problem by assuming that the $120,000 mortgage on Lyle's real estate is nonrecourse. Determine the tax consequence to Lyle if the mortgage holder forecloses on the real estate.

Calculating the bad debt loss as follows:

Mortgage - fair market value of

property= $120,000- $100,000

$20,000

Calculating the capital profit as follows:

Fair market value of property - Adjusted basis= $100,000- $75,000=

$25,000

step 1: create a plan

step 2: inventory facility equipment/assets

step 3: create preventive maintenance procedures

step 4: create preventive maintenance schedules

step 5: train your maintenanceteam

step 6: analyze – adjust - improve

or

step 1 – pm procedure design: doing the effective things

step 2 – pm procedure scheduling: efficient use of people and resources

step 3 – pm lubrication engineering

step 4 – pm training: back on the chain gang

step 5 – pm program management plan

step 6 – communicate, communicate, communicate

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