Missouri K-1 (Form 1120S) for non-resident shareholders reports a shareholder's share of an S-corporation's income, deductions, and state adjustments specific to Missouri tax law. These forms often contain various income items, such as ordinary business income, net rental real estate income, interest income, dividend income, capital gains (losses), and specific Missouri additions or subtractions. The inconsistent layouts and extensive footnotes across different Missouri K-1 (NRS) documents, which can vary significantly by preparer and software, often lead to a time-consuming manual review process for tax professionals. Abacus automates this by accurately extracting all pertinent data points from Missouri K-1 (NRS) PDFs and normalizing them into standardized Excel workbooks. This comprehensive extraction includes precise handling of federal and state add-backs, various Missouri-specific tax credits, and granular ownership detail, ensuring the data is clean, validated, and ready for seamless import into tax preparation software like CCH or GoSystem.
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