Does an LLC that is ingaged in rental activitiy with one shareholder do they file form 1065 or scedule e on their personal return?
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Shareholders are for corps, not LLCs.
Single member LLCs rentals can file Sch E, or 1120 or 1120S, but never 1065.
LLCs with more than one partner can files 1065 or 1120 or 1120S, but not Sch E.
1065, 1120 and 1120S file separate returns from a 1040.
1065 and 1120S provide K-1s to their owners, who then report the K-1 income, etc. on their own returns.
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