since the property is held by the 4 of you directly, the LLC is irrelevant (why do you even have it a joint a/c would probably accomplish the same thing)? a partnership return is required. the question is do you provide services to the AIRBNB users
According to the IRS: “Generally, Schedule C is used when you provide substantial services [i.e. hotel like services] in conjunction with the property
Do short-term rentals go on Schedule C?
Renting for Less than Seven Days When your average rental period is seven days or less per tenant, the IRS deems the activity to not be a rental activity under the passive activity rules. Because of this, many CPAs put short-term rental activities on Schedule C.
Is an Airbnb rental considered a business?
Typically since Airbnb requires active management, it is considered an active trade or business. This classification renders hosts as self-employed businesses. As a self-employed individual you are responsible for reporting and remitting your taxes on your own
thus these activities of an AIRBNB would get reported on page 1 of form 1065 not form 8825
any net income would be subject to self-employment tax
the partnership will issue each of you a k-1 which you use to report on your personal tax returns,
since you control the LLC, distributions from the partnership would be treated as if they had been made to each of you directly. (like the LLC was a management company)
