Short Term Rental Income Schedule E and AB150 SALT taxes

[Ashish G.]

Hi

I have W2 income and short term rental income reported on Schedule E. I file jointly with my wife. 

Has anyone figured out a way to leverage AB150 SALT tax workaround in this situation to pay California taxes? 

May be a way to move all Schedule E income into a new LLC (partnership with spouse) and then pay CA state tax from that entity and then deduct that against the rental income, thereby reducing the pass through rental income from LLC into federal returns?

Thanks

Ashish