Oregon K-1 (Form 21) reports a partner's or shareholder's share of income, deductions, and state adjustments from a pass-through entity for Oregon tax purposes. These forms often include specific Oregon modifications, such as additions for federal depreciation differences or subtractions for Oregon-specific credits like the Business Energy Tax Credit. The varying layouts and extensive footnotes across different Oregon K-1 (Form 21) documents, often differing by preparer and software, can significantly slow down the review process for tax professionals as they manually sift through pages of data. Abacus streamlines this process by extracting all relevant fields from Oregon K-1 (Form 21) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of Oregon and federal add-backs, various state tax credits, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH Axcess or GoSystem.
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