Virginia K-1 (Form 502V) reports a pass-through entity's share of income, deductions, and state adjustments specifically for Virginia income tax purposes. These forms often detail various types of income, such as ordinary business income, net rental real estate income, interest income, and dividend income, as well as specific Virginia adjustments and credits that differ from federal tax law. The inherent variations in layout and extensive footnotes across different Virginia K-1 (Form 502V) documents, often differing by preparer and software, can significantly slow down the manual review process for tax professionals. Abacus automates this by extracting all relevant fields from Virginia K-1 (Form 502V) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of both federal and Virginia-specific add-backs, various state tax credits, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH or GoSystem.