If you and your wife are the only owners of the LLC, then its considered a pass thru for tax purpose. That means any type of income earned by the LLC should be reported on your personal return based on the type of income. So rental income and expense goes on your Sch E. Interest income would go on your Sch B etc. No reporting as Sch C income unless the activity of the LLC was you or your wife providing some type of services or consulting to others for a fee.
