New Jersey K-1 (CBT-100S) reports a shareholder's share of an S-corporation's income, deductions, and state adjustments specific to New Jersey tax law. These forms can contain intricate details such as allocated and apportioned income, various New Jersey-specific adjustments, and credits. The wide variations in layout and the presence of extensive footnotes across different CBT-100S forms, often depending on the preparer and software used, can significantly impede the review process for tax professionals. Abacus addresses this challenge by precisely extracting all pertinent data points from New Jersey K-1 (CBT-100S) PDFs and converting them into standardized Excel workbooks. This normalization process includes careful management of federal and state add-backs, various New Jersey tax credits, and detailed ownership information, ensuring the data is clean and readily importable into leading tax preparation software like CCH or GoSystem.
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