New York K-1 (IT-204-IP) reports a partner's or member's share of income, deductions, and state adjustments from a partnership or LLC for New York State tax purposes. These forms frequently present challenges due to their varying layouts, which can differ significantly by preparer and software, and often contain extensive footnotes that require careful review. This complexity can considerably slow down the tax preparation and review process. Abacus addresses these issues by leveraging advanced OCR and AI to extract all pertinent data fields from New York K-1 (IT-204-IP) PDFs. The extracted data is then normalized and validated against New York tax rules and cross-schedule consistency, including detailed handling of state-specific add-backs and subtractions, various tax credits (e.g., investment tax credit, credits for taxes paid to other jurisdictions), and granular ownership details. This automated process ensures the data is clean, accurate, and structured for seamless import into tax preparation software such as CCH Axcess or GoSystem, significantly reducing manual data entry, errors, and review time for tax professionals.