1/3 Directly on Schedule E or File a 1065?

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Hi All,

Hoping I can get a start on the best way to file. We chose this strategy to allow the max number of mortgages.

Partner A purchased 1 property (A is the only person on title and mortgage)

Partner B purchased 1 property (B is only person on title and mortgage)

Partner C purchased 1 property (C is the only person on title and mortgage)

We have agreed to split income and expenses equally (with an equal amount of capital contributed). I like the idea of a 1065 because I don't want to be involved in the other two partners personal tax filings. I can just issue them a K-1 and then I know that it was then reported properly. However, when one person receives a 1099 or 1098 with their social on it, can you still report these forms on a 1065? 

Any thoughts on directly reporting on a schedule e vs a 1065 would be appreciated!