Because you are a married couple and both materially participate in the business you are eligible to treat your business as a Qualified Joint Venture (QJV).
A qualified joint venture is a joint venture that conducts a trade or business where:
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The only members of the joint venture are a married couple who file a joint return;
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Both spouses materially participate in the trade or business; and
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Both spouses elect not to be treated as a partnership.
You will each need to create two separate sole proprietorships on your return. You will then split your business income and expenses between the two businesses according to ownership percentages or by participation percentages.
The IRS has not issued any guidance on how to split the 1099-Misc when there is qualified joint venture when a 1099-Misc received is only in one of the spouse's name.
To avoid the IRS being unable to match the 1099-Misc to their records:
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The entire amount should be reported as income under the Social Security Number on the 1099-Misc and entered as a 1099-Misc
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That spouse then would then enter, as an expense, in the Miscellaneous Expense section the amount of the 1099-MIsc Income based on the other spouse's percentage. The description on the entry would be "QJV income to spouse"
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The the other spouse would enter this amount as Other self-employment income.
This link to Election for Married Couples Unincorporated Businesses is an the IRS web site and has information that you may find useful.
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