I have a new imac and my wife and I each have our own account. Our itunes library consists of about 5000 songs and when my wife wants to access the library she needs to log out an log in to my account. Is there a way to copy the library so that she can access it in her account? If she were to make a playlist or add music to the itunes library does it automatically sync so that when I access itunes in my account I can see the playlists she made and any additions to the music library?
Turn on Home Sharing as it was made to do what you are wanting. Even copies iTunes content over automatically if you enable that in the Settings. However, it does not create or copy over playlists only the songs, apps, movies, tv shows, books, etc. themselves.