USA Tax filing for Co-ownership & Co-Finance

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Hi All,

Before I dig into the questions, here's our situation.

We're planning on rental property investment along with another couple so it would be a partnership, however we can't setup a LLC as we're in the U.S on a work visa.

Few questions we had in mind:


1) Since this will be a partnership, is there a special documentation we need to establish so we can split taxes at the end of year, obviously without setting up a LLC?
3) In the case of claiming capital depreciation, could the depreciation be split for both our families?

Thank you for your assistance.
 

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