You will need to file a partnership return with the following forms (and possibly other forms depending on any other activity in your LLC). You and your partner may be able to deduct the 14k loss up to your ownership percentage. The loss may be limited depending on your individual income levels.
Form 1065 US Partnership Return.
Form 8825 Rental Real Estate Income and Expenses of a Partnership or an S Corporation
(One for each member) Schedule K-1 (Form 1065) Partner’s Share of Income, Deductions, Credits, etc.
