Partnership
A partnership is the relationship between two
or more persons who join to carry on a trade
or business, with each person contributing
money, property, labor, or skill and each
expecting to share in the profits and losses
of the business whether or not a formal
partnership agreement is made.
The term “partnership” includes a limited
partnership, syndicate, group, pool, joint
venture, or other unincorporated
organization, through or by which any
business, financial operation, or venture is
carried on, that isn't, within the meaning of
regulations under section 7701,
Who Must File
Domestic Partnerships
Except as provided below, every domestic
partnership must file Form 1065, unless it
neither receives income nor incurs any
expenditures treated as deductions or
credits for federal income tax purposes.
the above is from the IRS instructions for a partnership return. it would seem your venture meets the definition of a partnership. However, I will agree that many partnerships do not file returns as required but split the reporting. it's your money and your risk
