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I just bought a 05 f250 and it has a B&W turnoverball in the bed. I pulled the pin and turned it toward the front of the truck so it would stay out, but I can't get the ball out of the hole. Currently it is upside down. I've tried crawling under the truck and hitting it with a hammer and it wont budge.
If you don't flip them often (or at least take it out and put it back in) they will corrode and freeze in place. I caked a copper based anti-seize on mine to prevent corrosion.
PB Blaster is also a good pentrating fluid. You might also try heat...
Like Rebel said, it is just stuck in there because it hasn't been moved in a long time--dirt/water/corrosoion are the problem. The shank should have a small cross-shaft looking up at you--anyway to hook on to that with a puller/pry bar? Or get a small chain hook down in the shank and hook it to one of the openings in the shank side and pull?
Joe