Because you have a partnership with your spouse, the business loss/gain is passed through to each partner, namely, you and your spouse. In other words, each partner will get their distributive share of the loss or gain depending on how the partners have determined such losses and gains should be allocated.
In TurboTax Business you can prepare your partnership return. In TurboTax Home & Business, you can prepare your personal tax return. Your spouse will have to purchase a separate TurboTax Home & Business to prepare a return. If you choose to purchase the CD version of TurboTax, you could prepare your personal return and that of your spouse's as that product can prepare up to five federal tax returns.
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