Mississippi K-1 (Form 81-132) reports a pass-through entity's share of income, deductions, and state adjustments for Mississippi tax purposes. This form details a variety of income types, such as ordinary business income, net rental real estate income, interest income, and dividend income, as well as specific Mississippi adjustments and credits. The varying layouts and extensive footnotes across these forms, which often differ by preparer and software, can significantly impede the review process for tax professionals. Abacus addresses this by meticulously extracting all relevant fields from Mississippi K-1 (Form 81-132) PDFs and normalizing them into standardized Excel workbooks. This includes precise handling of federal and state add-backs, various tax credits applicable in Mississippi, and detailed ownership information, ensuring a clean, accurate, and efficient import directly into leading tax preparation software like CCH or GoSystem.
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