To clarify, in order to give you a complete answer, is your LLC a separate entity complete with its own Tax ID# to report on a partnership return or are you treating this like a husband/wife LLC and plan to report this as Schedule C income? I have an answer to both scenarios. Also does your wife intend to live in the investment property and is the investment property in your/wife's name or is it in the name of the LLC?
Please respond back to @DaveF1006.
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