How to report fix and flip joint venture on taxes?

[Wilson Jing]

I entered a fix and flip deal with a partner 50/50. I have a LLC and he has a LLC, for this property we did not form another llc, just drew up a joint venture contract. My LLC bought the house 20k on 5/15/2017, we split purchase and rehab 50k 50/50, and sold the house on 2/1/2018 for 90k. 1. When I report this property on my balance sheet this yea 2017 do I report the full purchase price and the full rehab or just half? 2. When I report the sale of the property in 2018 since we don’t have a joint llc how do I report only 1/2 of the income came to me and 1/2 went to him? Just thought about this as I’m finalizing my 1065. Thank you for the help and insight!