Yes. Home & Business (installed on your own Mac or PC) can prepare any number of tax returns, with e-filing allowed for the first 5. The Turbotax license limits the number of computers you can install it on, and restricts your use to personal (friends and family only) and noncommercial (you can't charge someone to prepare their return) and the 5 e-file limit is imposed by the IRS. Each return is a separate document, like having multiple word processor or spreadsheet documents on your computer.
On the other hand, with Turbotax Online (where the services is called "Self-employed") each online account can only prepare and file one return for one user and each account will be charged a separate fee.
