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Blue Lake Properties
March 9, 2025
Question

Selling Real Estate

  • March 9, 2025
  • 1 reply
  • 0 views

My LLC sold improved real estate (land and improvement). The property was acquired through a tax

lien sale. TurboTax has asked for the date of purchase, purchase price, and the value of land included in the total cost. The value of the land and improvement are each more than the purchase price. When the value of land is entered in TurboTax, “Oops! The value of land cannot exceed the

total amount you paid.” How do I handle this?

    1 reply

    J
    JeraldR
    March 9, 2025

    Hi, Blue.

     

    It's best to contact your accountant first to seek guidance on how to handle the issue you've encountered.

     

    Also, I suggest contacting TurboTax support directly. They can assist you further with their tools and help gather information and investigate the problem you've encountered. I'll show you how to reach them:

     

    1. Log into your TurboTax account.
    2. Click on Help or Live Help.
    3. Type your question or enter Talk to a specialist.
    4. Follow the instructions to schedule a call.

     

    Moreover, you can check this article to check their support hours: What's the TurboTax phone number?

     

    If you have questions or clarifications, don't hesitate to use the reply button here in Community. We're here to help you.

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