In New Jersey (and most other states), an LLC with spouses as members has to be treated as a partnership for tax purposes (unless the LLC files a form with the IRS to elect to be treated as an S corporation or C corporation). That means that the LLC has to file it's own Form 1065 partnership tax return, separate from your personal Form 1040 joint tax return. The partnership return will include a Schedule K-1 for each partner. You have to enter the information from each Schedule K-1 in your personal tax return.
To prepare the Form 1065 partnership return for the LLC you have to use TurboTax Business (which is not the same as TurboTax Home & Business). TurboTax Business is available only as CD or download software, and only for Windows. Go to the following link for more information about TurboTax Business, and to purchase it.
https://turbotax.intuit.com/small-business-taxes/
To prepare your personal Form 1040 joint return you need one of the personal TurboTax editions. You can use TurboTax Online Premier or higher, or any edition of the CD/Download TurboTax software. Here are links to learn about and purchase the CD/Download TurboTax software or TurboTax Online.
https://turbotax.intuit.com/personal-taxes/cd-download/
https://turbotax.intuit.com/personal-taxes/online/
TurboTax Business cannot prepare your personal Form 1040 tax return, and none of the personal editions of TurboTax can prepare a Form 1065 partnership return, so you need two separate TurboTax products for your situation.
For the benefit of anyone else reading this answer, the preceding information applies in all states that are not community property states. In a community property state an LLC with two spouses as the only owners has the option to be treated either as a partnership, as described above, or as a "disregarded entity." The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
