If you are claiming 50/50 for income then you need to claim 50/50 for the expenses also.

For more information please see our TurboTax FAQs: 

When Married Couples Run Businesses Together 

Completing Your Return if You Co-Own a Small Business with Your Spouse

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Thanks @TurboTaxGinette! I understand that we need to split the expenses, but it seems that TurboTax automatically splits our 50/50 income, so I'm wondering if we need to divide our total expense costs by two and physically enter those amounts in each of our relevant sections OR if the system will work out that we are dividing the expense costs between us so entering the total amount in my section (which is then replicated in my partner's) is the way to go. Hope this is making sense and thanks for your help. 

If you each have the 50% ownership indicated then you will put the full amount of the expenses on each return and TurboTax will calculate the 50% for each of you on your perspective returns.

Thank you for choosing TurboTax.

So does that mean I'm also putting the full income onto both of the pages as well (given the 50/50 partner indication) or split the income? 

@KaraB22 Correct, If you each have the 50% ownership indicated then you will put the full amount of the income on the return and TurboTax will calculate the 50% for each of you on your perspective returns. You can see the details in the "Detailed Summary".

Thank you for choosing TurboTax.