DLE
Level 3

Business & farm

I'll try to limit my reply to your questions...

Depreciation from LLC/Multi-member partnership (LLC/MMP) rental property WILL NOT APPEAR on Form 1040 but will instead appear on Form 8825 which is filed with Form 1065 for the LLC/MMP (you likely will never see this form unless you are preparing and filing the LLC/MMP's Form 1065 return return yourself).  The LLC/MMP sends you a K-1 with net income or net loss, after taking depreciation as an expense.  That's all you get.  This net income or loss shows up on Schedule E, Part II, Line 28.

 

Depreciation from PERSONALLY-owned (not in an LLC /MMP) rental property would appear on Schedule E, Part I, line 18, with supporting forms/schedules.  But you said property is in an LLC/MMP so this doesn't apply to your situation.