Massachusetts K-1 (Form 2) reports a partner's or shareholder's share of a pass-through entity's income, deductions, and state adjustments specifically for Massachusetts tax purposes. These forms often include detailed breakdowns of various income types (e.g., ordinary income, net rental real estate income, interest, dividends), specific Massachusetts adjustments (such as those related to the state's corporate excise tax, net operating loss limitations, or specific credits), and information pertinent to both resident and non-resident filers. The diverse layouts and extensive footnotes across different Massachusetts K-1 (Form 2) documents, which vary by preparer and software, can significantly impede the manual review process for tax professionals. Abacus optimizes this by extracting all relevant fields from Massachusetts K-1 (Form 2) PDFs and standardizing them into structured Excel workbooks. This comprehensive process includes precise handling of federal and state add-backs, various Massachusetts-specific tax credits, and granular ownership details, ensuring a clean and efficient direct import into leading tax preparation software like CCH or GoSystem.