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Federal Free Printable 2019 Form 1120-L for 2020 Federal U.S. Life Insurance Company Income Tax Return

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U.S. Life Insurance Company Income Tax Return
2019 Form 1120-L

Form 1120-L Department of the Treasury Internal Revenue Service U.S. Life Insurance Company Income Tax Return 2 Life-nonlife consolidated return Please print or type 3 Schedule M-3 (Form 1120-L) attached . Final return B Employer identification number Number, street, and room or suite no. If a P.O. box, see instructions. C Date incorporated City or town, state or province, country, and ZIP or foreign postal code D Check applicable box if an election has been made under section(s): 953(c)(3)(C) 953(d) (2) (3) Name change (4) Address change Amended return 1 . . . . . . . . . 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3a 3b Investment income (Schedule B, line 6) (see instructions) . Net capital gain (Schedule D (Form 1120), line 18) . . . Other income (attach statement) . . . . . . . . Life insurance company gross income. Add lines 1 through 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 7 9 10 Death benefits, etc. . . . . . . . . . . Net increase, if any, in reserves (Schedule F, line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 10 11a b 12 Increase in reserves under section 807(f) . . . . . . Deduction from Reserve Transition Relief (see instructions) Deductible policyholder dividends under section 808 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11a 11b 12 13 14 15a Assumption by another person of liabilities under insurance, etc., contracts Dividends reimbursable by taxpayer . . . . . . . . . . . . Interest ▶ b Less tax-exempt interest expense ▶ . . . . . . . . . . . . . . . . . . . . c Balance ▶ 13 14 15c 16 17 18 Deductible policy acquisition expenses (Schedule G, line 20) . Reserved for future use . . . . . . . . . . . . Other deductions (see instructions) (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 18 19 20 21a Add lines 9 through 18 . . . . . . . . . . . . . . . Subtotal. Subtract line 19 from line 8 . . . . . . . . . . . Dividends-received and other special deductions (Schedule A, line 22) . . . . . . . . . . . . . . . . 21a . . . . . . . . . . 19 20 22 23 24 Plus: b. Net operating loss deduction (see instructions) (attach statement) . . Gain or (loss) from operations. Subtract line 21c from line 20 . . . . . . Life insurance company taxable income (LICTI). Enter line 22 here . . . . Phased inclusion of balance of policyholders surplus account (see instructions) . . . . . . . . . . . . . . . . . . . . . . 25 26 Taxable income. Add lines 23 and 24 (see instructions) Total tax (Schedule K, line 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 26 27 28a 2019 Net 965 tax liability paid from Form 965-B, Part II, column (k), line 3 2018 overpayment credited to 2019 . . . . . . 28a 28c 2019 estimated tax payments . . . . . . . . Less 2019 refund applied for on Form 4466 . . . . 28d ( . . . . . . . . . . . 27 Tax deposited with Form 7004 . Credits: (1) Form 2439 ▶ Tax, Refundable Credits, and Payments Income (line 6 is reserved) (1) Name Deductions (See instructions for limitations on deductions.) E Check if: 2019 For calendar year 2019 or tax year beginning , 2019, ending , 20 ▶ Go to www.irs.gov/Form1120L for instructions and the latest information. A Check if: 1 Consolidated return (attach Form 851) . OMB No. 1545-0123 Gross premiums, etc., less return premiums, etc. Enter balance . . . . . 2 3a b Net decrease, if any, in reserves (Schedule F, line 12) . Decrease in reserves under section 807(f) . . . . Income from Reserve Transition Relief (see instructions) 4 5 7 8 c d f g h i j 29 30 31 32 . . . . . . . . . . . . . . . . . . . 21b . . . . . . Line 28b is reserved. . . . . . ) 28e 28f 28g U.S. income tax paid or withheld at source (attach Form 1042-S) . . 2019 Net 965 tax liability from Form 965-B, Part I, column (d), line 3 . Refundable credit from Form 8827, line 5c . . . . . . . . . . . . . . . . . . . . 28h 28i 28j . . . . . . . . . . (2) Form 4136 ▶ 28k Estimated tax penalty. Check if Form 2220 is attached . . . . . . . . . . . . . . . Amount owed. If line 28k is smaller than the total of lines 26, 27, and 29, enter amount owed . . . Overpayment. If line 28k is larger than the total of lines 26, 27, and 29, enter amount overpaid . . . Enter amount from line 31: Credited to 2020 estimated tax . ▶ Refunded . . . 29 30 31 ▶ 32 ▲ Paid Preparer Use Only . . ▶ Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. May the IRS discuss this return with the preparer shown below? See instructions. Yes No Date Title Signature of officer ▲ Sign Here 21c 22 23 Print/Type preparer’s name Firm’s name ▶ Firm’s address ▶ Preparer’s signature For Paperwork Reduction Act Notice, see separate instructions. Date PTIN Check if self-employed Firm’s EIN ▶ Phone no. Cat. No. 11480E Form 1120-L (2019) Form 1120-L (2019) Schedule A Page 2 Dividends, Inclusions, Dividends-Received Deduction, and Other Special Deductions (see instructions) (a) Dividends and inclusions Dividends subject to proration (c) Deductions ((a) times (b)) (b) % 1 Dividends from less-than-20%-owned domestic corporations (other than debt-financed stock) . . . . . . . . . . . . . . . . . 1 50 2 Dividends from 20%-or-more-owned domestic corporations (other than debt-financed stock) . . . . . . . . . . . . . . . . . 2 65 3 Dividends on certain debt-financed stock of domestic and foreign corporations . . . . . . . . . . . . . . . . . . . 4 5 Dividends on certain preferred stock of less-than-20%-owned public utilities Dividends on certain preferred stock of 20%-or-more-owned public utilities . 3 4 5 see instructions 23.3 26.7 6 Dividends from less-than-20%-owned foreign corporations and certain foreign sales corporations (FSCs) . . . . . . . . . . . . . 7 8 9 10 11 12 Dividends from 20%-or-more-owned foreign corporations and certain FSCs Dividends from wholly owned foreign subsidiaries and certain FSCs . . . Dividends from certain affiliated companies . . . . . . . . . . Gross dividends-received deduction. Add lines 1 through 9 . . . . . Company share percentage . . . . . . . . . . . . . . . Prorated amount. Line 10 times line 11 . . . . . . . . . . . 6 7 8 9 10 11 12 50 65 100 100 13 Affiliated company dividends . 13 see instructions 14 Foreign-source portion of dividends received from a specified 10%-owned foreign corporation (excluding hybrid dividends) (see instructions) . . . 14 100 15 Dividends from foreign corporations not included on line 3, 6, 7, 8, or 14 (including hybrid dividends) . . . . . . . . . . . . . . . 16 Section 965(a) inclusion . . 15 16 see instructions 17a Subpart F inclusions derived from the sale by a controlled foreign corporation (CFC) of the stock of a lower-tier foreign corporation treated as a dividend (attach Form(s) 5471) (see instructions) . . . . . . . . 17a 100 b Subpart F inclusions derived from hybrid dividends of tiered corporations (attach Form(s) 5471) (see instructions) . . . . . . . . . . . 17b c Other inclusions from CFCs under subpart F not included on line 16, 17a, 17b, or 18 (attach Form(s) 5471) (see instructions) . . . . . . . . 0.7 Dividends not subject to proration . . . . . . . . . . . . . . . . . . . . . . . . . . . 17c 18 19 18 19 Global intangible low-taxed income (GILTI) (attach Form(s) 5471 and 8992) . Other corporate dividends . . . . . . . . . . . . . . . 20 Total dividends and inclusions. Add lines 1 through 19, column (a). Enter here and on Schedule B, line 2 . . . . . . . . . . . . . . 21 Section 250 deduction (attach Form 8993) . 20 21 22 Total deductions. Add lines 12, 13, 14, 16, 17a, and 21, column (c). Enter here and on page 1, line 21a . . . . . . . . . . . . . . 22 Schedule B . . . . . . . . . Investment Income (see instructions) 1 Interest (excluding tax-exempt interest) . . . . . . . . . . . . . . . . 1 2 3 4 Total dividends and inclusions (Schedule A, line 20, column (a)) Rents . . . . . . . . . . . . . . . . . Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 4 5 6 Leases, terminations, etc. . . . . . . . . . . . . . . . Investment income. Add lines 1 through 5. Enter here and on page 1, line 4 . . . . . . . . . . . . . . . . . . . . . . . 5 6 . . . . . . Form 1120-L (2019) Page 3 Form 1120-L (2019) Schedule F Increase (Decrease) in Reserves (section 807) (see instructions) (a) Beginning of tax year 1 2 3 4 5 6 7 Life insurance reserves . . . . . . Unearned premiums and unpaid losses . Supplementary contracts . . . . . Dividend accumulations and other amounts Advance premiums . . . . . . . Special contingency reserves . . . . Add lines 1 through 6 . . . . . . . 8 9a Increase (decrease) in reserves under section 807. Subtract line 7, column (a), from line 7, column (b) Tax-exempt interest . . . . . . . . . . . . . . . . . . . . 9a b c 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Increase in policy cash value of section 264(f) policies as defined in section 805(a)(4)(F) Add lines 9a and 9b . . . . . . . . . . . . . . . . . . . . Policyholders’ share percentage . . . . . . . . . . . . . . . . . (b) End of tax year 1 2 3 4 5 6 7 . . . . . . . 9b 9c . . . . . . . 8 . . . . 10 11 Policyholders’ share of tax-exempt interest and the increase in policy cash value of section 264(f) policies as defined in section 805(a)(4)(F). Multiply line 9c by line 10 . . . . . . . . . . . . . . . . . 11 12 Net increase (decrease) in reserves. Subtract line 11 from line 8. If an increase, enter here and on page 1, line 10. If a decrease, enter here and on page 1, line 2 . . . . . . . . . . . . . . . . . . . 12 Schedule G Policy Acquisition Expenses (section 848) (see instructions) (a) Annuity 1 Gross premiums and other consideration . 2 Return premiums and premiums and other consideration incurred for reinsurance . . . . . . . . . . . . . . . . . . 3 4 5 Net premiums. Subtract line 2 from line 1 Net premium percentage (see instructions) Multiply line 3 by line 4 . . . . . . 6 7 8 9 Combine line 5, columns (a), (b), and (c), and enter here. If zero or less, enter -0- on lines 7 and 8 Unused balance of negative capitalization amount from prior years . . . . . . . . . Combine lines 6 and 7. If zero or less, enter -0- . . . . . . . . . . . . . . . General deductions (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) Group life insurance 2 3 4 5 . . . . . . . 6 7 8 9 10 11 12 Enter the lesser of line 8 or line 9 . . . . . . . . . . . . . . . . . . . . . . . Deductible general deductions. Subtract line 10 from line 9. Enter here and include on page 1, line 18 . . . If the amount on line 6 is negative, enter it as a positive amount. If the amount on line 6 is positive, enter -0- . . . . 10 11 12 13 14 Unamortized specified policy acquisition expenses from prior years . . . . Deductible negative capitalization amount. Enter the lesser of line 12 or line 13 . . . 13 14 15a Tentative 60-month specified policy acquisition expenses. Enter amount from line 10, but not more than $5 million . . . . . . . . . . . . . . . . . . 16 17a b 18a b 19 20 Limitation . . . . . . . . . . . . . . . . . . . . Phase-out amount. Subtract line 15b from line 10. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( ) $10,000,000 . 17a . . . . . . . 17b . 18a . . . . . . . 18b Current year 180-month specified policy acquisition expenses. Subtract line 17a from line 10 . . . . . . . . . . . . . . . . . . . . . . . . Enter 3.34% (0.0334) of line 18a . . 15a 15b 16 . . Current year 60-month specified policy acquisition expenses. Subtract line 16 from line 15a. If zero or less, enter -0. . . . . . . . . . . . . . . . . Enter 10% (0.10) of line 17a . (c) Other 1 . . . . . b 30% Enter the applicable amount of amortization from specified policy acquisition expenses capitalized in prior years and deductible this year. Attach statement . . . . . . . . . . . . . . . . . . . . . Deductible policy acquisition expenses. Add lines 14, 17b, 18b, and 19. Enter here and on page 1, line 16 . . 19 20 Form 1120-L (2019) Page 4 Form 1120-L (2019) Schedule K Tax Computation (see instructions) 1 2 3 Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)) . Income tax . . . . . . . . . . . . . . . . . . . . . . . . . Base erosion minimum tax amount (attach Form 8991) . . . . . . . . . . . . 4 5a b Add lines 2 and 3 . . . . . . . . Foreign tax credit (attach Form 1118) . . Credit from Form 8834 (attach Form 8834) c d e 6 7 8 9 10 . . . . . . . . . . . . . . . . . . ▶ . . . . 2 3 . . 5a 5b . . . . . 4 . . . . . . . . . . . . . . . . . . 6 7 8 Other (attach statement) . . . . . . . . . . . . . . . . . . . 9 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . General business credit (attach Form 3800) . . . Credit for prior year minimum tax (attach Form 8827) Bond credits from Form 8912 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total credits. Add lines 5a through 5e . . . . . . . . . . . . . Subtract line 6 from line 4 . . . . . . . . . . . . . . . . . Foreign corporations—tax on income not effectively connected with U.S. business . . . Other taxes. Check if from: Form 4255 Form 8611 Total tax. Add lines 7 through 9. Enter here and on page 1, line 26 Schedule L . . 5c 5d 5e . . . . . . Part I—Total Assets (see instructions) (a) Beginning of tax year 1 2 3 4 5 Real property . . . . . . . . . . . Stocks . . . . . . . . . . . . . Proportionate share of partnership and trust assets Other assets (attach statement) . . . . . . Total assets. Add lines 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) End of tax year 1 2 3 4 5 Part II—Total Assets and Total Insurance Liabilities (section 842(b)(2)(B)(i)) (see instructions) Note: The information provided in Part II should conform with the “Assets” and “Liabilities, Surplus, and Other Funds” sections of the NAIC Annual Statement. (a) Beginning of tax year 1 2 3 4 5 6 7 8 9 10 11 Subtotals for assets . . . . . . . . . . . . . . . . Total assets . . . . . . . . . . . . . . . . . . Reserve for life policies and contracts . . . . . . . . . . . Reserve for accident and health policies . . . . . . . . . . Liability for deposit-type contracts . . . . . . . . . . . . Life policy and contract claims . . . . . . . . . . . . . Accident and health policy and contract claims . . . . . . . . Policyholder’s dividend and coupon accumulations . . . . . . . Premiums and annuity considerations received in advance less discount Surrender values on canceled policies . . . . . . . . . . . Part of other amounts payable on reinsurance assumed . . . . . 12 Part of aggregate write-ins for liabilities. (Only include items or amounts includible in “total insurance liabilities on U.S. business” as defined in section 842(b)(2)(B)(i)) . . . . . . 13 14 Separate accounts statement . . . . . . . Total insurance liabilities. Add lines 3 through 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) End of tax year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Form 1120-L (2019) Page 5 Form 1120-L (2019) Schedule M Other Information (see instructions) Yes 1 a b 2 a Check accounting method: Accrual 3 The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Enter number of Forms 5472 attached. ▶ 9 Does the corporation discount any of the loss reserves shown on its annual statement? . . . 10a Enter the total unpaid losses shown on the corporation’s annual statement: (1) For the current year: $ (2) For the previous year: $ b Enter the total unpaid loss adjustment expenses shown on the corporation’s annual statement: $ (1) For the current year: $ (2) For the previous year: Legal reserve company—if checked Kind of company: (1) Stock Fraternal or assessment association Burial or other insurance company Enter the percentage that the total of the corporation’s life insurance reserves (section 816(b)) plus unearned premiums and unpaid losses (whether or not ascertained) on noncancelable life, health, or accident policies not included in life insurance reserves bears to the corporation’s total reserves (section 816(c)) . . ▶ %. 11 Enter the available net operating loss carryover from prior tax years. (Do not reduce it by any deduction on page 1, line 21b.) . . ▶ $ Attach a statement showing the computation. 12a Enter the corporation’s state of domicile. ▶ Does the corporation have any variable annuity contracts outstanding? . . . . . . . . 5 At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestic corporation? (For rules of attribution, see section 267(c).) . . . . . . If “Yes,” attach a statement showing (a) name and employer identification number (EIN), (b) percentage owned, and (c) taxable income or (loss) before NOL and special deductions of such corporation for the tax year ending with or within your tax year. b Was the annual statement used to prepare the tax return filed with the state of domicile? . . . . If “No,” complete c below. c Enter the state where the annual statement used to prepare the tax return was filed. ▶ 13 Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions . . . . . . . . . . If “Yes,” complete and attach Schedule UTP. 14 Does the corporation have gross receipts of at least $500 million in any of the 3 preceding tax years? (See section 59A(e)(2) and (3).) . . . . . . If “Yes,” complete and attach Form 8991. 15 During the tax year, did the corporation pay or accrue any interest or royalty for which the deduction is not allowed under section 267A? See instructions . . . . . . . . . . . . Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? . . . If “Yes,” enter name and EIN of the parent corporation. ▶ 7 At the end of the tax year, did any individual, partnership, corporation, estate, or trust own, directly or indirectly, 50% or more of the corporation’s voting stock? (For rules of attribution, see section 267(c).) If “Yes,” complete a and b below. a b 8 No Check if the corporation is a: 4 6 Yes 8c Other (specify) ▶ (2) Mutual Principal business: (1) Life Insurance (2) Health and accident insurance b c No Attach a statement showing name and identifying number. (Do not include any information already entered on line 6 above.) Enter percentage owned. ▶ At any time during the year, did one foreign person own, directly or indirectly, at least 25% of (a) the total voting power of all classes of stock of the corporation entitled to vote, or (b) the total value of all classes of stock of the corporation? . . . If “Yes,” enter the total amount of the disallowed ▶ $ deductions . . . . 16 Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year? See instructions . . . . . . . . . . . . 17 Is the corporation required to file Form 8990, Limitation on Business Interest Expense IRC 163(j), to calculate the amount of deductible business interest? See instructions . . . . . . . . If “Yes,” enter: a Percentage owned and ▶ b Owner’s country. ▶ Form 1120-L (2019)
Extracted from PDF file 2019-federal-form-1120-l.pdf, last modified January 2020

More about the Federal Form 1120-L Corporate Income Tax Tax Return TY 2019

We last updated the U.S. Life Insurance Company Income Tax Return in February 2020, so this is the latest version of Form 1120-L, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 1120-L directly from TaxFormFinder. You can print other Federal tax forms here.

Related Federal Corporate Income Tax Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal Form 1120-L.

Form Code Form Name
1120-L (Schedule M-3) Net Income (Loss) Reconcilliation for U.S. Life Insurance Companies With Total Assets of $10 Million or More

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Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 1120-L from the Internal Revenue Service in February 2020.

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Form 1120-L is a Federal Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Federal Form 1120-L

We have a total of nine past-year versions of Form 1120-L in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 1120-L

2019 Form 1120-L

2018 Form 1120-L

2018 Form 1120-L

2017 Form 1120-L

2017 Form 1120-L

2016 Form 1120-L

2016 Form 1120-L

U.S. Life Insurance Company Income Tax Return 2015 Form 1120-L

2015 Form 1120-L

U.S. Life Insurance Company Income Tax Return 2014 Form 1120-L

2014 Form 1120-L

U.S. Life Insurance Company Income Tax Return 2013 Form 1120-L

2013 Form 1120-L

U.S. Life Insurance Company Income Tax Return 2012 Form 1120-L

2012 Form 1120-L

U.S. Life Insurance Company Income Tax Return 2011 Form 1120-L

2011 Form 1120-L


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