I have a newly formed LLC owned by a husband + wife in a community property state.  I am choosing to treat as a SMLLC.  The SMLLC has received two K1's and I not sure how to report on the 1040.  I have read so many opinions that I am now unsure.  These are businesses (not rentals or investments).  Do I report on a Sch C, Sch E or just as a K1 on the Sch E page 2.  Also, there is section 179 to consider for the purchase of an asset in the SMLLC.  Thanks for the help.