Get your taxes done using TurboTax

Ok ... do it this way ... you own 100%  of your portion of the rental.   So in the program you tell it you own 100% then you enter in your portion of the income and expenses ( do NOT let the program allocate anything ... do it yourself).  This way you are sure you are reporting your portion of the income & expenses correctly and you will enter in only your portion of the cost basis of the property to be depreciated.   Telling the program you only own 50%  is a recipe for disaster as you can see from the posts on this thread.