These Operational Directions Are Available Only to Partnerships Required to e-file.
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 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.).
o 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.
o 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 to 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 of 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.