Missouri K-1 (NRF) reports a non-resident individual's or entity's share of income, deductions, and state adjustments from a pass-through entity (like a partnership or S-corporation) for Missouri tax purposes. These forms often contain specific Missouri adjustments, such as those related to additions or subtractions to federal adjusted gross income, and various state-specific credits or limitations. The diverse layouts and extensive footnotes across different Missouri K-1 (NRF) documents, which can vary significantly by preparer and software, often lead to time-consuming manual review and data entry errors for tax professionals. Abacus addresses these challenges by precisely extracting all relevant fields from Missouri K-1 (NRF) PDFs and standardizing them into structured Excel workbooks. This process includes meticulous handling of federal and state add-backs, various Missouri tax credits, and detailed ownership information, ensuring the data is clean, accurate, and ready for efficient import directly into tax preparation software like CCH or GoSystem.
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