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Loss Reserve Discounting (LRD) for 1120-PC returns

1120-PC discounting summary

The Discounting Summary folder is where most of the Loss Reserve Discounting (LRD) data is located.
In Organizer, select
Loss Reserve Discounting
, then
Discounting Summary
, then
Summary Totals
.
  • Summary Totals tab
  • Short Period Lines tab
  • Long Period Lines tab
  • Accident and Health tab
  • IRS Discount Factors tab.
Short Period Lines
For the following short period lines, you can see the amounts from the Company Payment pattern: the Annual Statement and the Loss Reserve Calculations.
  • Special Property
  • Auto Physical Damage
  • Fidelity and Surety
  • Other (Credit & A&H)
  • Financial/ Mortgage Guaranty
The Company Payment Pattern shows the last five years of data. The Annual Statement section displays information from columns 23, 24, 35, and 36 of Schedule P.
The Loss Reserve Calculation section displays statutory reserves, discounted anticipated Salvage and Subrogation, and Discounted Loss Reserves for the last 2 years.
Long Period Lines
For the following Long period lines, you can see the amounts from the Company Payment pattern, the Annual Statement, and the Loss Reserve Calculations. The Company Payment Pattern shows the last fifteen years of data. The Annual Statement section displays information from columns 23, 24, 35, and 36 of Schedule P. The Loss Reserve Calculation section displays statutory reserves, discounted anticipated Salvage and Subrogation, and Discounted Loss Reserves for the last 15 years.
  • Auto Liability
  • Worker’s Compensation
  • Multiple Peril
  • Medical Professional Liability
  • Other Liability
  • International
  • Reinsurance
  • Products Liability

Accident and health

Summary of Group Accident and Health policies unpaid losses.
Navigation: Organizer > Loss Reserve Discounting > Discounting Summary > Accident and Health tab
  • Group Accident and Health unpaid losses
  • Group Accident and Health LAE expenses
  • Other Accident and Health unpaid losses
  • Other Accident and Health LAE expenses
  • Less: Reserves not eligible for half-year discounting
  • * Net Accident and Health Reserves subject to discounting*
  • Discount Factor
  • Accident and Health discounted reserves
  • Accident and Health reserves subject to Morbidity discounting
  • Total adjustment for discounting Accident and Health loss reserves
* Statutory reserves from Schedule P, Part L should be adjusted to reflect the amounts represented on line 6 above.

This article applies to:

  • PRODUCT: ONESOURCE Income Tax
  • Return type: 1120 Corporation
  • Subject: Insurance

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