my sister and I now own in 2022 our parents home. it has an occupied rental unit how do we report in turbo tax

Waiting three days before the filing deadline to address this was not a good idea. Espeically when two of those days fall on a weekend. But it is what it is.

Rental income/expenses gets reported on SCH E. However, I would suggest you seek professional help for setting this up in your first year of ownership. Especially if your state taxes personal income. You have several choices where each of you can report your share of things on SCH E as a part of your individual 1040 personal tax returns, or you can establish a partnership or multi-member LLC and report the rental income/expenses on a 1065 Partnership/Multi-member LLC tax return.

One thing is, if you'd set this up earlier as a partnership, the 1065 return was due March 15. So if you go that route now, the late filing fees are high, at $210 per month, per partner.

What's in your individual best interest depends on to many specifics to cover here. Therefore, a face-to-face with a tax professional in your first year dealing with this may be well worth the money.

Some other key things that will matter even more, is how you two acquired ownership of the property, as that will determine your cost basis in the property.

Did your parents gift you two the property? Maybe your parent's passed and you two inherited it? Maybe you don't actually own it now if your parents did what's called a "ladybird deed" or similar? How you acquired ownership of the property matters big time, for determining your cost basis in the property for depreciation.