If we are co owners on a rental property doesnt the expenses and rental income apply to both or just to the highest earner?

Thank you for choosing Turbotax,

As co-owners, you declare a portion of the rent as decided in a written or verbal agreement between the owners. Once co-ownership is established, you need to determine if a partnership exists between you and the other owner. 

Please visit our Turbotax article on Claiming Rental Income and How do I enter my rental income and expenses in TurboTax?  learn more about how to declare rental income with your co-owner.