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K1 Aggregator | K-1 Reader Quick Start Guide

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To ensure you get the best experience using our K1 Reader, we’ve put together this quick guide for you on key considerations as you upload your K1s to K1 Aggregator for extraction.

We are continually making improvements to our AI extraction capabilities, but following these guidelines will enhance the accuracy of document extraction, especially with the nuances of the contents of a PDF document.

Important Considerations

  • REQUIRED: Ensure the Federal Face Page is in the Packet. If there is not a federal k-1 face page present, the process will stop.
  • There should be 1 Federal K-1 face page per PDF, the Reader does not support multiple Federal K-1s in a single PDF upload.
  • K-1 Reader needs to know key pieces of information to move downstream in the process; Tax Year (i.e. – 2023), K-1 Type (1065, 1120-S, 1041)
  • File size: Files larger than 15mb tend to be scanned, have extra pages, annotations, and additional content in there that can slow down and degrade the ability to process the file for extraction. If possible, try to see if you can reduce the size and unneeded content in the file.
  • Use text-based PDFs whenever possible. These are easier for AI to process than scanned files, we can convert scanned files to text through our OCR technology, but your extraction results will vary.
  • Password-Protected PDFs cannot be processed. Remove any encryption before uploading. (Adobe Instructions to remove Passwords)
  • Scanned K-1s: If you have scanned, the higher quality the better. Extraction results will vary greatly with scanned K-1s.
  • Annotations, Watermarks, Handwriting or Cursive Fonts may cause errors in the extraction results or may cause the upload to fail.
  • K-1 Investment Matching. When a K-1 is read, if a matching investment is found, the investment will be updated (existing data will be overwritten).
  • Matching Logic. K-1 Reader matching logic includes the following:
    • Partnership EIN
    • Partner SSN or TIN
    • If Disregarded Entity, DE TIN

85% of all PDFs uploaded to K1 reader get through the processing step (Processed status vs. Error).

Formatting Tips

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Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

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