If you are your finance are partners than you would file a partnership return using form 1065 which will report income and expenses based your partnership percentage owned. If you have a partnership agreement allows for differences in the allocation of profits and losses (income and expenses). The IRS will not allow one partner to take all the profits and one partner to take all the expenses.
Once you file 1065 you each will report the Schedule K-1 on your personal returns.
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