Filing second year return for partnership - first year missed

[Jeremy Fields]

My partner and I formed an LLC in 2015 and purchased a rental home. This is our only investment property and the sole reason for the LLC.

In 2015 we did not issue a K1 and there was no return filed for the LLC. We filled out a schedule E. We realize this was not right and for 2016 taxes want to file correctly.

Should we file this year as the 1st or 2nd year? How do we handle depreciation? I am looking for an alternative to amending personal returns, etc.

Really appreciate any advice.