korz
Level 3

Business & farm

Indeed.  I looked at the Sched E Part I asks only for a SSN.

 

Part II asks for an EIN, but that's presuming we stay a partnership and I don't want the extra paperwork and cost of that.  What I liked about the partnership was that the bank account was in the name of the LLC rather than our names and the management company only knows our EIN and not our SSN.  Now we'll have to open a bank account in one of our names if we want to keep the money separate and also we'll have to share one of our SSN's with the management company.  On the plus side, we don't have to keep filing Annual Reports, which cost money, and we can use TT Home and Business for all our taxes... we don't have to buy TT Business for the 1065/8825/K-1's and the related 4562.