Hi Bob, thanks for the reply. 

At first when I read disregarded entity I thought the conclusion would be income/loss to be reported on 1040 Sch C. However, you stated husband/wife partnership. 

To be abundantly clear - do you believe a 1040 or a 1065 is required? Please do explain your rationale especially given you stated both LLC and Trust are disregarded. I'd like to hear your professional interpretation. I have so many windows open right now and I feel I can make an argument for either if I wanted to.