Massachusetts K-1 (S) reports a shareholder's share of an S-corporation's income, deductions, and state adjustments for Massachusetts tax purposes. These forms often contain specific details, including ordinary business income, net rental real estate income, interest, dividends, capital gains, and various state-specific credits or adjustments like those related to the Massachusetts corporate excise tax. The varying layouts and extensive footnotes, which can differ significantly depending on the preparer and software used, often complicate and slow down the review process for tax professionals as they manually sift through pages of information to extract and organize data. Abacus automates this by extracting all relevant fields from Massachusetts K-1 (S) PDFs and normalizing them into standardized Excel workbooks. This includes meticulously handling federal and state add-backs, various tax credits, and detailed ownership information, ensuring a clean and efficient import directly into tax preparation software like CCH or GoSystem, thereby reducing manual errors and saving significant time.