HUSBAND AND WIFE LLC'S - IS IT NECESSARY TO FILE A SEPARATE TAX RETURN FOR THE LLC?

[Michelle E.]

I've had mixed answers on this and looking for help. My husband and I own 2 properties under separate LLCs. We file our taxes jointly. One year we were told that we needed to file a separate tax return for each LLC and one for our personal return. The next year (new accountant) told us that we could file a personal return and list our properties on a schedule E on our personal return. Of course this saves money - filing 1 return vs. 3 but we want to make sure that we are doing things properly. Another accountant said if you have an LLC, you need to file a return for that LLC. We don't know what is correct. We live in Illinois if that makes a difference. Help!