STR Tax Loophole in a partner LLC

[John Park]

Hi. My brother and I are 50/50 business partners in our real estate journey. We are closing on a couple properties that we tend to use for short term rentals in order to take advantage of the str tax loophole to offset our W2 income tax. 

My main question is if we start transferring the deed over to our LLC in which we are 50/50 partners, how does it work when it comes time to deduct the bonus depreciation against our W2? Do we each get 50% of the write off or does the entire write off go to the one that originally bought the property in their own name? Thank you and appreciate any advice possible.