Yes, you are correct. You will file a Form 1120S for the S-Corporation. That return will produce a Schedule K-1 showing profit and other items based on the tax situation of the S-Corp. The K-1 will be entered on your personal tax return (Form 1040) using one of the TurboTax personal products. You can file a Married Filing Joint tax return (it usually works out best for most people) and the K-1 data will be netted with your personal income and deductions on your Form 1040.
Note: As an officer of the S-Corporation, your husband is also required to draw a salary with payroll tax withholding, and receive a W-2 from the S-Corporation.
