8916

Reconciliation of Schedule M-3 Taxable Income With Tax Return Taxable Income for Mixed Groups

Agency
IRS
Revision
Rev. October 2020
Fillable fields
25
Pages
2
Official source
IRS form page
Checked
October 21, 2026
Fill 8916 online
Page 1 of form 8916

Form 8916: Reconciliation of Schedule M-3 Taxable Income for Mixed Groups

Form 8916 reconciles Schedule M-3 taxable income to tax return taxable income for a mixed group. The IRS describes a mixed group as a consolidated tax group that files two or more of the following tax returns: Form 1120, 1120-L or 1120-PC.

The instructions give three kinds of mixed group: one that includes both an insurance company and a corporation that is not an insurance company, one that includes both a life insurance company and a property and casualty insurance company, and one that includes all three. The form starts from the tax reconciliation amount on Schedule M-3, applies life and non-life limitations and deductions, and ends on a total that the form says equals the taxable income line of the consolidated Form 1120, 1120-L or 1120-PC.

It is a corporate form attached to the consolidated Schedule M-3. Its instructions are printed on page 2. You can fill out Form 8916 free in your browser on this page and download it without an account.

What's on Form 8916

Header

Name or names as shown on the return and the employer identification number.

Line 1: Schedule M-3 amount

The total tax reconciliation amount from the applicable line of Schedule M-3.

Lines 2a to 3: limitations

The life/non-life loss limitation amount, the phased inclusion of the policyholders surplus account balance, life and non-life capital loss and charitable deduction limitations, and dual consolidated losses disallowed, combined on line 3.

Lines 4a to 6: deductions

Net operating loss deductions for 1120-PC, 1120-L and 1120 members, life and non-life dividends received deductions, and capital loss and charitable deduction carryforwards used, added on line 5 and subtracted on line 6.

Lines 7 and 8: adjustments and total

Other adjustments to reconcile to taxable income, with an attached schedule, and the total on line 8.

How to fill out Form 8916

  1. 1

    Line 1

    Enter the tax reconciliation amount from the applicable line of Schedule M-3. The instructions give as an example Part II, line 30, column (d), of the Schedule M-3 for Form 1120 (Rev. December 2019).

  2. 2

    Line 2a

    Enter any life/non-life loss limitation amount from the supporting workpapers. The instructions point to section 1503(c).

  3. 3

    Line 4a

    Enter any NOL deduction from supporting statements for each entity type. The instructions refer to section 172, the CARES Act changes and Rev. Proc. 2020-24 for losses from 2018, 2019 and 2020.

  4. 4

    Line 7

    Enter any other adjustments needed to reconcile to the taxable income on the consolidated return, from the supporting workpapers, and attach a short explanation of each adjustment.

  5. 5

    Line 8

    Combine lines 6 and 7. The instructions say the total equals the taxable income line of the consolidated return, for example 2020 Form 1120, page 1, line 30.

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How it is filed

Attach to Schedule M-3

The instructions say to attach Form 8916 to the consolidated Schedule M-3 for Forms 1120, 1120-L or 1120-PC.

Workpapers

The instructions say the taxable income calculation workpapers are summarized on Form 8916 and retained, and need not be submitted with the form.

Line references

The instructions note that all line references to Forms 1120, 1120-L and 1120-PC are to the 2020 forms.

Related attachment

The About page also lists Form 8916-A, Supplemental Attachment to Schedule M-3.

Related forms

Who files Form 8916?

  • Insurance and non-insurance groups

    A consolidated group that includes both a corporation that is an insurance company and a corporation that is not an insurance company.

  • Life and property and casualty insurers

    A consolidated group that includes both a life insurance company and a property and casualty insurance company.

  • Groups with all three

    A consolidated group that includes a life insurance company, a property and casualty insurance company and a corporation that is not an insurance company.

  • Only Schedule M-3 filers

    The form is attached to Schedule M-3 for Forms 1120, 1120-L or 1120-PC. It is filed only by consolidated groups of Form 1120, 1120-L or 1120-PC filers.

The instructions say Form 8916 is filed by a mixed group consisting of filers of Form 1120, 1120-L or 1120-PC that is required to file Schedule M-3.

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Questions about Form 8916

What is a mixed group?

The instructions describe a consolidated tax group that uses two or more of Form 1120, 1120-L or 1120-PC, combining insurance and non-insurance corporations or life and property and casualty insurers.

Is Form 8916 filed on its own?

No. The form says to attach it to Schedule M-3 for Forms 1120, 1120-L or 1120-PC.

Are the workpapers sent with the form?

No. The instructions say the workpapers are summarized on Form 8916 and retained, and need not be submitted.

What should line 8 equal?

The form says it equals the amount on the taxable income line of the consolidated Form 1120, Form 1120-L or Form 1120-PC.

Which year's forms do the line references use?

The instructions in this revision say all line references to Forms 1120, 1120-L and 1120-PC are to the 2020 forms.