Arizona K-1 (Form 120S NR) reports a non-resident's share of an S-corporation's income, deductions, and state adjustments specifically for Arizona filing. These forms often contain various income items, such as ordinary business income, net rental real estate income, interest income, and dividend income, as well as deductions and credits relevant to Arizona tax law, and unique state adjustments. The inherent differences in layout and extensive footnotes across different Arizona K-1 (Form 120S NR) documents, often differing by preparer and software, can significantly slow down the review process for tax professionals. Abacus streamlines this by extracting all relevant fields from K-1 (Form 120S NR) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of federal and state add-backs, various tax credits, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH or GoSystem.
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