1099-R codes

[mrtaxtip]

I had a few clients this year that received a 1099-R with code "L" in box 7. In the past, it seemed that a code "L" was followed by code "1" if the penalty applied. Has there been a change in reporting requirements? Our software has two separate fields for inputting.

[mastertaxguy]

1099 code L

Loan(s) treated as a distribution?

Perhaps no penalty as taxpayer/recipient over age 59 1/2/or left prior employer and after attaining age 55 (or age 50 if qualified public safety employee).

Perhaps a check of TTB tab 13 would have been useful.

[mrtaxtip]

Under 591/2. High medical bills although not enough to itemize.