Your election will be next year. Your partnership return is already filed, so when you input your Schedules K-1, these will automatically transfer over to separate Schedules SE for the self-employment tax calculation.
But you are correct about the Qualified Joint Venture provision. (As I mentioned in my comment, if you are an LLC, you will have to dissolve the LLC to make the election to be treated as a Qualified Joint Venture). When you make this election, you can split the income/expenses by a reasonable percentage. (You may choose 50/50 if you contribute evenly). A little math is necessary: you figure out all of the income and expenses on one Schedule C, but you actually use two Schedules C to report on the return (1/2 of the amounts on one, 1/2 of the amounts on the other).
You won't use this this year, but you can plan to use it next year. Here is an IRS link to further assist you: Qualified Joint Venture
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