It depends on who the two owners are.
A married couple will split the income and expenses and each file a schedule C as part (attachment to) of their Married filing Jointly (MFJ) return (regular form 1040).
Any other parties will file a Business partnership return (form 1065). The partnership will pay no tax but will issue form K-1 to each partner so they can each file schedule C as part of their regular 1040.
If you have an S corp or LLC, it works the same. The business files a business return and issues K-1 to to the owners or members.
You will need TurboTax (TT) Business software to prepare the partnership (or LLC or S corp) return and TT Home & Business to prepare your personal return, including schedule C and schedule SE to pay your self employment (social security & medicare) tax.
