K1x Release - 04/01/2025

Search

Hello! Please review the following changes that have been introduced as part of this K1x release. 

Enhanced Extraction Capabilities (Opt-In)

Our new extraction model delivers significant improvements in reading complex footnotes and statements:

• Our AI-powered extraction technology now captures complex footnote data (UBI, 199A, K-3 Overflow, and Form 926) with high accuracy, significantly reducing manual data entry while maintaining verification controls, and improving our competitive advantage in the tax document automation space.

These extraction improvements are available through an opt-in toggle next to the K-1 upload area, allowing you to choose when to adopt the new technology. Your Customer Success Manager may proactively enable this feature for your account if it aligns with your workflow needs.

Workflow Improvements

These efficiency-focused features are automatically available to all users:

• Partial Packets Processing: Upload K-1 forms as they arrive rather than waiting for complete packages. Our intelligent matching system will automatically associate forms belonging to the same investment, eliminating the need to combine multiple PDFs manually.
• Automatic Reclassification The system now allows users to quickly and easily reclass line items, typically in "Other Income" (11Z) or "Other Deductions" (13Z), based on description analysis saving you manual review time.
• Passive/Active Activities Workflow (Early Access): Enhanced support for identifying and managing passive and active activity footnotes, helping ensure proper tax treatment. Contact your CSM to try it today!

Was this article helpful?

Have more questions? Submit a request

Comments

0 comments

Please sign in to leave a comment.

<% children.forEach(function(child, index) { %>
• <%= child.title %>
<% }); %>

<% blocks.forEach(function(block, index) { %>
• <% if (imageHeight) { %> <% var src = images.length > index ? images[index] : images[images.length - 1] %> <% } %> <% if (block.name) { %>

  <% if (block.html_url) { %> <%= block.name %> <% } else { %> <%= block.name %> <% } %>

  <% } %> <% if (block.description) { %>

  <%= block.description %>

  <% } %>
<% }) %>

<% if (block.html_url) { %> <%= block.name %> <% } else { %> <%= block.name %> <% } %>

<%= block.description %>