Carl
Level 15

Business & farm

1) The LLC has to file form 1065 and this can be done electronically via Turbo Tax

Yes. You have to use TurboTax Business (different from Home & Business). TurboTax business is only available for the Windows operating system.  Turbotax Business is not available as an on line product or for MAC computers. Windows only. You can purchase TurboTax Business directly from Intuit at https://turbotax.intuit.com/small-business-taxes/

Be aware that the 1065 Partnership return has a "drop dead" due date to the IRS of March 15th. The late filing penalty is $200 per month, per partner. So file on March 16th and you've automatically got a $600 late filing penalty.

2) The LLC has to also file form 5472 and this can be done only by mail (cannot be filed electronically)

Based on what facts? From what I read at the very top of the form, the 5472 needs to be filed if a *CORPORATION* registered in the U.S. has more than 25% foreign ownership. A multi-member LLC or Partnership is not incorporated and therefore does not meet the requirements to file a 5472.