1099-R- Can I deduct: Separation From Service the Year After Age 55 (Age 50, If a Public Safety Employee)-

[tjennings]

If age 57 and was laid off from employment-  had a 401k loan and got 1099-R saying it was a distribution-

[MichaelDC]

Those questions regarding a 1099-R distribution help determine whether or not the distribution is subject to a 10% premature distribution penalty. It's seems that you passed one of the exceptions to the penalty.

It means separation from the company where you had the 401(k).  

See IRS Tax Topic - http://www.irs.gov/taxtopics/tc558.html

Distributions made to you after you separated from service with your employer if the separation occurred in or after the year you reached age 55, or distributions made from a qualified governmental defined benefit plan if you were a qualified public safety employee (State or local government) who separated from service on or after you reached age 50.