My daughter & I purchased an investment property in 2018. What is the best way to include this in our 2018 tax returns?

[Critter]

Did you do anything with it ?   Did it earn any income ?   Did you set up a partnership for it yet ?

[jparker100]

Both units are rented so yes to income.  Have not setup a partnership.  I asked my mortgage company about transferring the house to an LLC and they said I could not.

[Critter · Accepted solution]

I highly recommend you sit down with a local tax pro and be educated on what needs to be done in your state ... you may be able to simply split the Sch E between the 2 returns  or you may need to file a separate partnership return which is due 3/15/19.