Life Nonlife consolidation for insurance returns
A mixed group consolidation that consists of 1120, 1120-PC, and 1120-L returns is a Life Nonlife Consolidation. It can't contain any other return type.
If you have other subsidiaries in your company structure, combine them in 1 of the 3 subgroups. Group the return types together.
Only the following Life Nonlife Structures correctly compute, print, and e-file in the tax application.
Types of life nonlife structures
The Life Nonlife consolidation can only contain 3 entities.
If the parent is an 1120:
- Parent slot:1120 Nonlife Subgroup
- Elimination slot:1120 LNL Elimination
- Subsidiary slot:1120-L Topmost Subgroup
If the parent is an 1120-PC:
- Parent slot:1120-PC Nonlife Subgroup
- Elimination slot:1120-PC Elimination
- Subsidiary slot:1120-L Topmost Subgroup
If the parent is an 1120-L:
- Parent slot:1120-L Nonlife Subgroup
- Elimination slot:1120 Elimination
- Subsidiary slot:1120 or 1120-PC Topmost Subgroup
If the Nonlife subgroup doesn't include a PC subgroup
You need to create a PC subgroup that includes a blank PC subsidiary and blank PC elimination. This is then consolidated with the 1120 subgroup in the Nonlife subgroup Subconsolidation. If the PC subgroup is omitted, the result is a nonqualified XML file.
