I have a text file list of over 500 thousand one-field records. What
the best way to import this list into Excel? I'm running up against a
constraint on the # of rows allowed. Ideally, I'd like the records
fill-in to the next column should the row limit in the current column
be reached. My intention is to try to match values from one sheet to
this database of records.

I think the only way to do it is with code: try this on a blank
sprdsht. You'll need to provide the full directory path and filename
on the "Open" line.

Sub Import_BD_Textfile()
Dim Lyne As String 'variable to hold entry from file
Dim K As Long 'line counter

Application.Calculation = xlCalculationManual

Range("a1").Select 'start in cell A1

Open "c:\full path\filename.txt" For Input As #1

Do While Not EOF(1)
Line Input #1, Lyne 'read a line from the source file into memory
Lyne = Trim(Lyne) 'remove any leading or trailing blanks
ActiveCell.Offset(K, 0).Value = Lyne 'write the entry to the file
K = K + 1
If K = 65500 Then 'start a new column when row 65500 is filled
K = 0
ActiveCell.Offset(0, 1).Select
End If
Loop

Close #1
Application.Calculation = xlCalculationAutomatic
End Sub

Thanks for the code. I'm not familiar with VBA. Could you describe
how to implement your code, i.e. where to put it and how to run it?

Please disregard the previous email. I figured out how to run the
code. Thanks it worked perfectly.

Glad to help!