Get your taxes done using TurboTax

You can do it either way ... as one consolidated  property on the Sch E or  you can separate it onto 2 entries.  If there is a chance you will use 1/2 of the property for personal purposes ( you or a family member moves in ) in the future  then separating it into 2 entries would be wise.  Simply divide all the common expenses between the 2 units.