disregard entity

[2prkelly]

My wife and I just file joint-married.  we are passive investors in domestic real estate partnerships (LLC's).  are we considered a disregarded entity?

[ColeenD3]

Probably not.

You mentioned that both you and your wife own the LLC. You must then elect to be treated as a Partnership or Corporation. You do not qualify as a Qualified Joint Venture unless you are in a community property state.

[Rick19744]

Your facts are not clear at this point:

• Did you make a contribution to an LLC where you will receive a K-1?
• Did you and your wife set up an LLC?  This does not appear to be the case, but just want better details.
• Once you respond to these questions, you will be able to get a more informative response.