It depends. The asset you already have in place must be reduced by 50% (cost of land and building) as well as any other asset that still remains on depreciation for this rental property. You can leave them in place, just change the cost and TurboTax will calculate all the correct depreciation for half of the rental for your original purchase.
Then you an add your half of the value on the date of death for the land and building for a second asset. In the future, when and if you sell it you will handle each asset appropriately and it will be just as simple as if there was one asset.
@Azi1
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