regardless of whether owned through an LLC, qualified joint venture, or otherwise, my tax literature states in effect;
where there's ownership by an LLCs or QJV, each spouse must report separately their share of income and expenses on schedule E
per the iRS
A qualified joint venture is a joint venture that conducts a trade or business where (1) the only members of the joint venture are a married couple who file a joint return, (2) both spouses materially participate in the trade or business, and (3) both spouses elect not to be treated as a partnership.
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Spouses are treated as one taxpayer for purposes of the passive loss rules. If you are married for the tax year, your participation in an activity includes your spouses participation. The hours of participation in an activity by both spouses are combined in applying the test for material participation to each spouse.
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it may be best regardless of the circumstances to each file a schedule E with the joint return.
