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Visitor I

Form 4797 not entering gain onland correctly

I sold a warehouse that I have owned for almost 20 years in 2017.  When entering the property information in TurboTax, Rental and Royalty Summary section, it asked if the property had been sold in 2017 and I checked yes, and walked through the screens to enter the value for the sale of the asset (warehouse building) and land separately, as well as the purchase and sales date.  This information was then transferred onto the form 4797, the asset information in Section III, and the land information into Section II.  This is the problem, the land information should have been copied into Section I since I have owned it for well over 1 year (almost 20), but it was entered into Section II which is for short term gains.

 

I can override the data on form 4797, but if I open and close TurboTax the land information gets copied back into the Section II area on the form 4797 when I reopen.

 

I was on the phone with Tech assistance for almost 2 hours tonight, and their last suggestion was the reinstall the software from a download of the software, but that did nothing.

 

Any other ideas/assistance would be appreciated.