North Carolina K-1 (Form D-403) reports a partner's or shareholder's share of a pass-through entity's income, deductions, and state adjustments specifically for North Carolina filing. These forms can contain various income items such as ordinary business income, net rental real estate income, and interest income, along with specific North Carolina adjustments and credits. The inherent variations in layout and extensive footnotes across different D-403 documents, often varying by preparer and software, can significantly slow down the review process for tax professionals. Abacus streamlines this by extracting all relevant fields from North Carolina K-1 (D-403) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of federal and state add-backs, various state-specific tax credits, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH or GoSystem.
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