It depends. Here is the IRS website that defines a partnership: <a rel="nofollow" target="_blank" href="
https://www.irs.gov/businesses/small-businesses-self-employed/partnerships">https://www.irs.gov/busi... "LLC" is what the IRS calls a "disregarded entity", which means that being an LLC has nothing to do with how you report your income for tax purposes. Unless the other individual who you are in business with is your spouse (and if that is the case, please feel free to comment back so I can give more information), it seems like your structure is a partnership according to the IRS. If each of you are keeping separate records, then it is possible that you would file separate schedules C and E, but that actually is much more complicated than filing a partnership return, which will report to each of you the income you'll report on your personal returns. The only other option is if you are filing a corporation return (Form 1120 or 1120S). Just being an LLC does not make your arrangement a corporation. There are a number of legal steps you must take in order to become a corporation. Nevertheless, a partnership or a corporation return will use Form 8825. If you truly do not need either a partnership or a corporation return, you each file your rental income and expenses on Schedule E (on the personal return) based on the individual records you have. However, based on the information you've given me, a partnership return seems the most appropriate.
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