South Carolina K-1 (Form 1065) reports a partner's share of a partnership's income, deductions, and state adjustments specifically for South Carolina tax purposes. These forms often include specific state modifications, such as adjustments for state additions or subtractions, details on enterprise zone credits, or other state-specific tax incentives. The variations in layout and extensive footnotes across different South Carolina K-1 (Form 1065) documents, which can vary by preparer and software, significantly hinder the manual review process for tax professionals. Abacus mitigates this by precisely extracting all relevant data fields from these K-1 PDFs and normalizing them into standardized Excel workbooks. This comprehensive process includes meticulously handling South Carolina-specific add-backs and credits, and capturing detailed ownership information, ensuring a seamless and accurate import directly into tax preparation software like CCH or GoSystem.
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