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.
But if you have a 401(k) plan that allows you to borrow money from your balance, you can be your own helpful relative! In most cases, as long as you pay back your 401(k) loan according to the rules, the money you borrow is not reportable as taxable income.ut if you have a 401(k) plan that allows you to borrow money from your balance, you can be your own helpful relative! In most cases, as long as you pay back your 401(k) loan according to the rules, the money you borrow is not reportable as taxable income.