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.
A recent Tax Court case (Robert J. Brooks, et ux. v. Commissioner, TC Memo 2012-25, Jan. 26, 2012) deals with just such a loan and serves as a reminder that employer loans that are later forgiven usually result in taxable income to the employee. recent Tax Court case (Robert J. Brooks, et ux. v. Commissioner, TC Memo 2012-25, Jan. 26, 2012) deals with just such a loan and serves as a reminder that employer loans that are later forgiven usually result in taxable income to the employee.