Wisconsin K-1 (Form 2) reports a pass-through entity's share of income, deductions, and state adjustments specifically for Wisconsin filing. These forms often detail various income items like ordinary income, rental income, interest, and dividends, as well as state-specific deductions and credits. The inherent variations in layout and extensive footnotes across different Wisconsin K-1 (Form 2) documents, which can differ by preparer and software, often lead to a slower review process for tax professionals. Abacus significantly streamlines this process by extracting all relevant fields from K-1 (Form 2) PDFs and normalizing them into standardized Excel workbooks. This includes meticulous handling of federal and state add-backs, various tax credits unique to Wisconsin, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH or GoSystem.
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