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New Member
posted Feb 1, 2020 7:09:12 PM

So my return is on hold because my 1099-R has a BL in section 7. Any ideas on what I can expect to come of this or should I do something?

0 2 815
2 Replies
Level 15
Feb 1, 2020 7:23:48 PM

Code BL is a loan from a Designated Roth treated as a deemed distribution.    What makes you think the IRS is questioning that or holding processing because if it?

Level 15
Feb 1, 2020 7:43:22 PM

Were you under age 59½ at the time of this deemed distribution?  A Form 1099-R can only have codes B and L together if you were over age 59½, otherwise the form was prepared incorrectly.  (If you were under age 59½ it should have codes B and 1.)