1020 Form 8916 (PDF)

Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f8916.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

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Form 8916 (Rev. 10-2020) Page 2

Section references are to the Internal Revenue Code unless otherwise noted. Future Developments

For the latest information about developments related to Form 8916 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form8916 .

Purpose of Form

Use Form 8916 to reconcile Schedule M-3 taxable income to tax return taxable income for a mixed group, which is a consolidated tax group which uses two or more of the following tax return forms: Form 1120, 1120-L, or 1120-PC. A mixed group is a consolidated tax group that (1) includes both a corporation that is an insurance company, and a corporation that is not an insurance company, (2) includes both a life insurance company and a property and casualty insurance company, or (3) includes a life insurance company, a property and casualty insurance company, and a corporation that is not an insurance company. Who Must File

Form 8916 must be filed by a mixed group consisting of filers of Form 1120, 1120-L, or 1120-PC that is required to file Schedule M-3. How To File

Attach Form 8916 to the consolidated Schedule M-3. Taxpayers must summarize the taxpayer tax return taxable income calculation workpapers on Form 8916 and retain those workpapers. The taxable income calculation workpapers need not be submitted with the Form 8916.

Note: All line references to Form 1120-L, Form 1120-PC, and Form 1120 are to the 2020 forms.

Line 1. Schedule M-3 tax reconciliation amount. The amount on line 1 must equal the tax reconciliation amount from the applicable line of Schedule M-3. For example, this amount was reported on Part II, line 30, column (d), of the Schedule M-3 for Form 1120 (Rev. December 2019), or the 2020 Schedule M-3 for Form 1120-L or 1120-PC.

Line 2a. Life/non-life loss limitation amount. Enter any life/ non-life loss limitation amount from the supporting workpapers. See section 1503(c).

Line 4a. Net operating loss (NOL) deduction. Enter any NOL deduction from supporting statements for each entity type (Form 1120, 1120-L, and 1120-PC). For tax years beginning in 2020, see section 172(a)(1) as amended by section 2303 of P.L. 116-136 (the CARES Act). Also, see section 172(b)(1)(D) and Rev. Proc. 2020-24 for special rules for losses arising in tax years 2018, 2019, and 2020.

For tax years beginning after 2020, see section 172(a)(2) as amended by section 2303 of the CARES Act. See section 172 for more information, including special rules for insurance companies.

Line 7. Other adjustments to reconcile to taxable income on tax return. Enter on line 7 any other adjustments necessary to reconcile to taxable income reported on the consolidated income tax return from the supporting workpapers and attach a short explanation of the adjustment.

Line 8. Total. The amount on line 8 must equal the “Taxable income” line of the applicable consolidated income tax return. For example, see the 2020 Form 1120, page 1, line 30; 2020 Form 1120-L, page 1, line 25; or 2020 Form 1120-PC, Schedule A, line 37.

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The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for business taxpayers filing this form is approved under OMB control number 1545-0123.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. See the instructions for the tax return with which this form is filed.