Minnesota K-1 (Form KS) reports a shareholder's share of an S-corporation's income, deductions, and state adjustments for Minnesota tax purposes. These forms often contain specific Minnesota modifications, such as additions for federal bonus depreciation and subtractions for certain exempt interest income, which can complicate manual review. The diverse layouts and detailed footnotes, often varying by preparer and software, further hinder efficient processing. Abacus streamlines this by precisely extracting all relevant fields from Minnesota K-1 (Form KS) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of specific Minnesota-related add-backs, various state credits, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH or GoSystem.
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