Arizona K-1 (165 NR) reports a non-resident's share of a pass-through entity'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. The inherent differences in layout and the extensive footnotes across K-1 (165 NR) forms, which can vary significantly by preparer and software, often lead to a time-consuming and error-prone review process for tax professionals. Abacus addresses these challenges by employing advanced data extraction technologies to accurately pull all relevant fields from K-1 (165 NR) PDFs. This extracted data is then rigorously normalized and structured into standardized Excel workbooks. The normalization process includes meticulous handling of Arizona-specific federal and state add-backs and subtractions, various state-level tax credits, and detailed ownership information. This comprehensive approach ensures that the data is clean, consistent, and ready for a seamless and efficient import directly into leading tax preparation software such as CCH or GoSystem.
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