Maryland K-1 (Forms 510/511) reports a pass-through entity's share of income, deductions, and state adjustments specifically for Maryland tax filing. These forms often include detailed breakdowns of various income types (e.g., ordinary business income, rental income, interest, dividends), as well as specific Maryland adjustments, additions, and subtractions. The intricate nature of these forms, coupled with varying layouts and extensive footnotes from different preparers and software, frequently leads to manual data entry errors and significantly prolonged review times for tax professionals. Abacus addresses these challenges by extracting all pertinent data points from Maryland K-1 (Forms 510/511) PDFs and normalizing them into standardized Excel workbooks. This comprehensive process includes meticulously handling federal and state add-backs and subtractions, applying relevant tax credits, and detailing ownership information, ensuring the data is clean, validated for cross-schedule consistency, and ready for seamless and efficient import directly into tax preparation software such as CCH or GoSystem.
Trusted by the top 50 leading U.S. accounting firms, family offices, and wealth managers.
Enterprise-ready.
SOC2 Compliant.
Enterprise-grade security, certified for sensitive and regulated data. View our policies here.
More than 10,000 documents securely extracted with Abacus.