We are trying to make our tax simple.
Unfortunately, you did exactly the opposite by forming an LLC and putting the rental property(s) in it. You have to complete a 1065 partnership return for 2019 and all rental income and expenses will be report on IRS Form 8825 as a part of that partnership return.
The partnership will issue each partner a K-1 and all the rental income/loss will be reported in box 2 of the K-1. Numbers could be in other boxes to. But nothing concerning the rental property will be in box 1.
When you enter the K-1 on the personal 1040 tax return, any and all data cocerning the rentals will be on page 2 of the SCH E.
Your carry over losses will remain with the partnership/LLC. They don't get carried over to the personal taxes until you either sell the property or disolve the LLC/partnership. If you disolve the LLC, any carry over losses will be transferred the personal return. But they still won't be "allowed" until you sell the property.
