Nebraska K-1 (Form 1065N) reports a pass-through entity's share of income, deductions, and state adjustments specifically for Nebraska income tax purposes. These forms often detail various income components, such as ordinary business income, net rental real estate income, interest, and dividends, as well as specific Nebraska adjustments and credits. The inherent variations in layout, coupled with extensive footnotes, can significantly hinder the manual review process for tax professionals. Abacus addresses this by meticulously extracting all pertinent fields from K-1 (Form 1065N) PDFs and normalizing them into structured Excel workbooks. This comprehensive process includes handling federal and state add-backs, applying relevant tax credits, and capturing detailed ownership information, ensuring the data is clean, accurate, and ready for seamless import into tax preparation software like CCH or GoSystem.
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