It depends on the facts and circumstances. In this case, your facts and circumstances indicate that although you made the election official in September, obtaining the LLC and officially transferring the title to the LLC at that point, for tax reporting purposes you have been operating as a partnership (at least with these rental properties) all year. The most accurate (and simple) way to account for this is to file Form 8825 along with Form 1065 for your Partnership return.
Had you been operating the rental independently up until September this would not be the case. You would then want to report your individual rental on Schedule E and the partnership rental on Form 8825 (which obviously would be more complicated). But, since in this case you were sharing in this all along, you would use the Partnership Return. Here is a link to Form 8825 (Instructions on Page 3).
Please note: Only TurboTax Home and Business (Desktop Software) is capable of preparing Partnership returns.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
