No, you should each report your half of the sale, so that you can claim the exclusion for sale of a personal residence if you qualify. If you received a 1099-S in the name of just one of you, you should contact the issuer and request that each of you receive a 1099-S for your share only.
When you're ready to enter your information, type "personal residence sales" in the Search box in the upper right, then click on the "Jump to" link. This will take you to the screen Sale of Your Main Home.
