An unincorporated business jointly owned by a married couple is generally classified as a partnership for Federal tax purposes. For tax years beginning after December 31, 2006, the Small Business and Work Opportunity Tax Act of 2007 (Public Law 110-28) provides that a "qualified joint venture," whose only members are a married couple filing a joint return, can elect not to be treated as a partnership for Federal tax purposes.
Spouses make the election on a jointly filed Form 1040 or 1040-SR by dividing all items of income, gain, loss, deduction, and credit between them in accordance with each spouse’s respective interest in the joint venture, and each spouse filing with the Form 1040 or 1040-SR a separate Schedule C (Form 1040 or 1040-SR), Profit or Loss From Business (Sole Proprietorship) or Schedule F (Form 1040 or 1040-SR), Profit of Loss From Farming and, if otherwise required, a separate Schedule SE (Form 1040 or 1040-SR), Self-Employment Tax.
You can include 2 Schedule Cs when you file your tax return, one for you and one for your spouse. Where and how to enter a Schedule C in TurboTax.
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