How to file taxes for investment property owned through an LLC with multiple investors

[Jon Jacobs]

Hi All -

I am purchasing an a duplex through an LLC that will have 3-4 members in it (I will be managing the property and LLC). I know the basics in terms of how this impacts taxes (flows through to personal financials Schedule E). Obviously the distributions are made based on equity contributions, so for each investor to report their distributions, would I need to allocate rental income, expenses, depreciation, etc for them to complete their taxes?