Yes, you will need to report your earnings from your small business. Assuming you are a sole proprietor, you would report your business earnings/expenses on a Schedule C. This is prepared and filed on your personal return (not separately).
TurboTax will guide you through small business reporting. You will need either the TurboTax Self-Employed or TurboTax Home & Business depending on your online or cd/download preferences.
If your business is not a sole proprietorship, then you would prepare a business return and a personal return. TurboTax Business software is cd/download product. See this link for an overview of TurboTax tax products.
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