Hi. i have rental property income through an LLC my husband and I set up in 2016. do i report the income under my personal 'rental properties and royalties Sch E' ?

[mcontrs]

or is there a separate section that will cover income from single member LLCs that pass through to me/my husband?

[MiriamF]

Because you are currently listed as the sole owner of the LLC, you can claim all the income. It should be reported on Schedule E as rental income, with you alone listed as the owner. There is no other form.

If you and your husband are partners, but have not yet registered this LLC as a partnership, you will need to register the business as a partnership with your state's Secretary of State. You can each claim income from the partnership if you file jointly as a Qualified Joint Venture (QJV). The LLC designation is a "disregarded entity" under federal rules and does not apply to your 1040 tax return.

A QJV gives you each credit for the income without having to go to the extra expense of filing a Form 1065 partnership return. You must file jointly to be a QJV, and you can split the income between you any way you like, but you must each file your own Schedule E (or Schedule C if you provide services, such as housekeeping).