Hawaii K-1 (N-20) reports a pass-through entity's share of income, deductions, and state adjustments specifically for Hawaii filing, which can include details on ordinary income, rental income, interest, dividends, and other items relevant to Hawaii tax law. The inherent variations in layout and extensive footnotes across different Hawaii K-1 (Form N-20) documents, often differing by preparer and software, can significantly slow down the review process for tax professionals as they manually sift through pages of data and reconcile discrepancies. Abacus addresses this challenge by extracting all relevant fields from Hawaii K-1 (Form N-20) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of federal and state add-backs unique to Hawaii, various state-specific 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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