@calm technician
- 1065 return: My understanding is that real estate partnerships seem to be exempt from having to file 1065 returns, which decreases a good bit of managerial overhead.
I agree with that statement.
- Sched E: My understanding here is that, yes, all passive (unearned) income is reported on Sched E.
Yes, each of your reports your share of the income and expenses. If only one you owns the property, only that person can claim any depreciation.
