We receive dividends and we receive T5 's is this considered income splitting

No it is not the income splitting.  You need to enter  T5  once and allocate in the  box "Enter percentage of slip to claim on your spouse's tax return" 50 % to spouse .

My wife and I split our investment income. I entered taxable dividends on my return and indicated 50% to be reported by me and 50% by my wife but the software picks up 100% on my return and zero on hers and I can not get past this other than just dividing the dividends in 2 and reporting them that way.

@DeereMan Please contact our phone support team at 1-888-829-8608 as they will be better able to assist you.