It sounds like you have the entire value of the house on each of the returns. This is incorrect. If it is a 50/50 split then you need to divide the value of the house in half and enter that each of the tax returns.
If you have only half of the value of the house on the return, it will calculate the depreciation correctly. In the rental section of TurboTax, go to the Asset section. In the Asset section, flip through the screens until you come to one that says Tell Us About This Rental Asset. This is where you enter the cost of the property and the cost of the land. If the taxpayer only owns half of the house, then the values on this page should represent that. The depreciation will change once you change these values.
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