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Direct K-1 Import Export tax year 2024

Replacement flag

The Replacement Flag lets you decide if any data currently in the return is erased before you import new data. If your Direct K-1 import file doesn't have a valid Replacement Flag in the sixth field of the header, it won't be validated for import. You have four Replacement Flag options: M, R, U, or H.
M: Field Level Replacement Flag
This is the go-to flag for import. No existing data in the return gets cleared before you import. The only data that will be erased is if a data record on the import file puts new data into a field that already has data; the new data will replace the old data in that field. Any existing group data stays as is, and any group data records on the import file will import exactly into the positions specified with the 5 group numbers in the 2nd through 6th columns on the import file. It’s a good idea to export a return first and check out the existing group data structure if you’re unsure. For example, a partner might show up third in the list of partners, but its group number might be 4 because it was originally created in the fourth position, and later one of the first three partners was deleted.
U: Form Level Replacement Flag
All data and group alignment will be wiped from the return before you import for all fields with a form name that appears on the import file. For instance, if you have a
U
 flag import file with a single line containing the form name GENERAL INFORMATION and the field name PARTNERSHIP EIN, then all fields listed on the Direct K-1 file set with the form name GENERAL INFORMATION will be erased in the return before you import. Then during import, the listed PARTNERSHIP EIN will import into the return.Group numbers on the import file don’t matter during a
U
 flag import. For example, if an import file has these three lines:
“D SCHEDULE K-1”,”0”, ”1”, ”0”, ”0”, ”0”,”PARTNER NAME LN 13”,”Partner One”,”O”
“D SCHEDULE K-1”,”0”, ”7”, ”0”, ”0”, ”0”,”PARTNER NAME LN 13”,”Partner Seven”,”O”
“D SCHEDULE K-1”,”0”, ”9”, ”0”, ”0”, ”0”,”PARTNER NAME LN 13”,”Partner Nine”,”O”
Import will ignore the group numbers 1, 7, and 9 and put the first data record in the first position, the second data record in the second position, and the third data record in the third position.
If you also include these 2 lines with the 3 lines above:
“D SCHEDULE K-1”,”0”, ”7”, ”0”, ”0”, ”0”,”PARTNER ADDRESS LN 1”,”777 Street”,”O”
“D SCHEDULE K-1”,”0”, ”9”, ”0”, ”0”, ”0”,”PARTNER ADDRESS LN 1”,”999 Street”,”O”
Import will ignore the group numbers 7 and 9 and put the first data record in the first position (together with Partner One) and the second data record in the second position (together with Partner Seven). The only way to keep the names and addresses aligned here is to include another address row on the import file for Partner One before the other two addresses, with either a real address or a blank value, so the positions of each partner’s name and address on the import file match up.
H: Hybrid Replacement Flag
This flag deletes data like the
U
 flag but imports data like the
M
 flag. Data on the import file will be placed exactly in the position specified by the group numbers on the import file.
R: Return Level Replacement Flag
All data and group alignment on fields that appear on the Org Data Dictionary worksheet of the Direct K-1 file set are deleted before you import. Then data imports like the
U
 flag, where group numbers specified in the import file don’t matter, and group data is put in the next available position.
Additional Information
Make sure to group form and field names together in the import file when importing and using any flag other than
M
.

This article applies to:

  • PRODUCT: ONESOURCE Income Tax Express RS
  • Return type: 1065 Partnership
  • Subject: Export, Import
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