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we have a "humble" partnership LLC for an airbnb real estate rental unit.

I believe Im supposed to put most/all of the incomes/expenses on form 8825 and not on page 1 of the 1065 but my question is what DO i put on the 1065?

  1. do I include my state lic fees on the 8825 under misc or put them on page 1 of 1065?

  2. do i put all my depreciation (including sec 179) on 8825 and NOT on 1065 line 12 ?

  3. am i correct that for this real estate rental 'business' there will be almost zero entries on form 1065... only sch K line 2 (the total income for both partners) and then again in "analysis of net income" line 2b ii ( i am considering us both active limited partners since we 'manage' the airbnb rentals

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do I include my state lic fees on the 8825 under misc or put them on page 1 of 1065?

The LLC fee is not per property and not attributed to property so it shouldn't go on the form 8825.

do i put all my depreciation (including sec 179) on 8825 and NOT on 1065 line 12 ?

Property-related depreciation goes on form 8825. If you have depreciable assets that are not tied to a specific property, the go to line 12.

am i correct that for this real estate rental 'business' there will be almost zero entries on form 1065

Follow the instructions, but generally yes, that's the likely outcome.

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