Not really. You don't need most of the features of Self-Employed. Use Premier instead.

If your husband has a K1, all he enters on his personal return is the K1 (along with the W2, your income, personal deductions, etc) The Self-Employed version of Turbo Tax is for business owners who need to report the income and expenses of their single-member business on their personal return.

The activity of the business itself is not reported on your own 1040, as the entity is filing a business return- he just reports the more streamlined K1 numbers for his "share".

You can do that in Premier, and its a little cheaper than SE Online.