Tax season recap: Processed 3,000 K-1s with Qomplement

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Just survived another tax season and Qomplement was a lifesaver. We’re a mid-size accounting firm and we received about 3,000 K-1 forms this season that needed data entered into our tax prep software.

Last year (manual): 4 staff members, 6 weeks, many errors caught during review.
This year (Qomplement): 1 staff member reviewing auto-extracted data, 2 weeks, significantly fewer errors.

The K-1 template we built handles all the standard fields plus the less common ones in boxes 11-20. Only tricky part was K-1s from certain partnerships that use non-standard layouts, but those were ~5% of the total.

Genuinely don’t know how we’d scale without this. We’re adding 50+ new clients next year.

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That’s awesome! Do you mind sharing roughly how you structured your K-1 template? We’re doing something similar with 1099s and looking for best practices.

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Sure — the main thing is mapping each K-1 box number to a field. We have fields like box_1_ordinary_income, box_2_net_rental, etc. For the multi-line boxes (like box 11 with sub-categories A through F), we use sub-fields. Works really cleanly.