I had people spit on me, throw things at me and want to physically fight me â people who had never met me or talked to me. In the age of social media, this is what I get:  @kato_kaelin why don't U just die, loser. Ur worthless.. Never has a man done so little to be recognized by so many.
Full or partial cash repayment of the debt by the corporation reduces the shareholder's loan basis. (Repayment with property other than cash is beyond the scope of this item.) If the debt basis has previously been reduced to zero, all the subsequent repayment is treated as taxable income to the shareholder.
For example, a state may not generally exempt bonds, but some bonds may be specifically exempted by the laws authorizing their issuance. Income earned from a bond issued by another state is taxable only if such other state imposes a tax on Utah bonds. Interest from some obligations is exempt from tax. Taxable only if long form is used. Some bonds may be exempt by state law. Pro-rata adjustment is allowed. Interest on some obligations is exempt by law. Taxable only for gross income tax purposes. Interest on U.S. obligations and obligations of all states would not be taxable if the investment allocation percentage is zero. Otherwise, the interest is taxable at the investment allocation percentage.