Iowa K-1 (Form 1120S) reports a shareholder's distributive share of an S-corporation's income, deductions, credits, and other adjustments specifically for Iowa income tax purposes. These forms often contain complex details, including ordinary business income (loss), net rental real estate income (loss), interest income, dividend income, capital gains (losses), and various state-specific credits or adjustments relevant to Iowa tax law. The inherent variations in layout, extensive footnotes, and diverse reporting practices across different preparers can significantly impede the review process for tax professionals. Abacus streamlines this by extracting all pertinent fields from Iowa K-1 (Form 1120S) PDFs and meticulously normalizing them into standardized Excel workbooks. This robust process includes the precise handling of federal and state add-backs, various Iowa tax credits (e.g., Iowa film and media production tax credit, research activities credit, etc.), and detailed ownership information, ensuring a clean, accurate, and efficient import directly into leading tax preparation software like CCH or GoSystem.