Preliminary question: Do you and your wife reside in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin)? If so, you have another option other than having to report on Form 1065 and receiving a K-1.
Otherwise, a K-1 would be generated in the course of preparing a Form 1065 for your multi-member LLC (which essentially defaults to a partnership unless other elections are made).
See https://www.irs.gov/instructions/i1065#idm140672580675136
You should absolutely seek professional tax and legal guidance for your scenario since it appears you do not have any familiarity with pass-through entity taxation and Form 1065 (for 2019) was due in March of this year.
