These Optional Directions Are Available Only to Partnerships Required to e-file.

Transactional Data

Transactional data for the following forms may be submitted on a summary form in XML format as defined below. Partnerships that use these optional procedures are agreeing that transactional data details will be made available on request.

Form T – Forest Activities Schedule

Form 4562 – Depreciation and Amortization

Form 4797 – Sale of Business Property

Form 8824 – Like Kind Exchange

Form 8873 – Extraterritorial Income Exclusion

Schedule D – Capital Gains and Losses

Summary Format

A Summary format can be used when the underlying transactional data contains more than 100 lines for that particular data type. The summary totals must be reported by data type, classification, or other grouping as required on the form. If there are less than 100 instances of transactions by data type, classification, or other grouping the transactions are required to be itemized.

Transactional Data Summary Formats

A Transactional Data Summary format can only be used when the underlying transactional data includes more than 100 lines for that particular data type by form part (i.e. Schedule D short-term or long-term, Form 4797, Part 1 or Part 2, etc.).

Form T (PDF)

Form 4562 (PDF)

Form 4797 (PDF)

Schedule D (PDF)

Form 8824 (PDF)

Form 8873

If 5.c.(1)(a) - Aggregate of Form 8873 is selected as the basis for reporting, complete all of the applicable Forms 8873 in XML. Otherwise, a separate summary Form 8873 should be filed for each of the three Extraterritorial Income Exclusion pricing methods described in section 941(a)(1)(A) through (C), if applicable, completing only line 54 for the total amount of the Extraterritorial Income Exclusion and details will be available on request.

Summary format can not be used for net gain and loss transactions. If a partnership chooses to use the summary format to report transactional data, gains and losses must be summarized and reported separately within each form part.

For example, if a partnership had 500 short term gain transactional items and 2000 short term loss transactional items, use of the Summary Format would require the partnership to report 2 separate totals on Part 1 of the Schedule D or Form 4797 under Short Term Gains and Losses, one for the total of the short term gain items and one for the total of the short term loss items.