Please see my previous response regarding the land.
Your calculations are correct. Your basis for loss produces a gain and your basis for gain produces a loss.
The only problem is that TurboTax is not set up for this situation. You will have to mock up a version of each and print them and mail your return to the IRS showing them (in detail) how you came up with the scenario and quoting 26 CFR § 1.165-9.
