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Damage Reduction:
"Damage reduction (DR) applies to kinetic damage—any bludgeoning, piercing, or slashing damage—that a character takes, regardless of that damage’s source."
Guard Fighting Style:
"When an ally adjacent to you is damaged by an attack, you can use your reaction to intercede. You take half the damage, and your ally takes the other half."
The ability is pretty light on any restrictions or limitations. Seems to me like you'd take [Half] - [DR], assuming the damage type was appropriate.