New York K-1 (CT-34-SH) reports a shareholder's share of income, deductions, and state adjustments from a New York S-corporation. These forms often contain specific New York modifications, such as those related to decoupling from federal depreciation, various state tax credits, and adjustments for New York City Unincorporated Business Tax (UBT) if applicable. The inconsistent layouts and extensive footnotes, which can vary significantly between preparers and software, frequently create challenges and slow down the review process for tax professionals. Abacus automates and streamlines this by precisely extracting all pertinent data points from K-1 (CT-34-SH) PDFs and normalizing them into standardized Excel workbooks. This comprehensive process includes handling federal and state add-backs, meticulously accounting for diverse tax credits, and capturing detailed ownership information, ensuring the data is clean, accurate, and ready for efficient import directly into leading tax preparation software like CCH or GoSystem.
Trusted by the top 50 leading U.S. accounting firms, family offices, and wealth managers.
Enterprise-ready.
SOC2 Compliant.
Enterprise-grade security, certified for sensitive and regulated data. View our policies here.
More than 10,000 documents securely extracted with Abacus.