Anyone else out there had an outstanding 401k loan prior to COVID and lost their job due to COVID and were unable to pay the remaining loan? I could not and mine was deemed a distribution. Was wondering if this could apply to the COVID distribution and spread out for 3 years? I'm hearing yes and maybe not. When I select 1 as my distribution code, it will spread out the distribution for 3 years. But if I select 1L (shown on my 1099-R) it won't. It would suck if there was no provision made for this due to the COVID disaster.
