Yes, but Home and Business may be better for a small business.
The TurboTax Deluxe product does support Schedule C and Form 4562, Depreciation and Amortization. To see a complete list of the supported tax forms in Deluxe, please click on the link provided below:
https://turbotax.intuit.com/personal-taxes/online/deluxe.jsp
If you have expenses too, see below:
TurboTax Self-Employed or TurboTax Home and Business enables independent contractors, consultants, freelancers, and other self-employed taxpayers to file Schedule C for their business, along with a 1040 for their personal taxes. .
However, you can use TurboTax Deluxe if you don't have any self-employed expenses to report
