You will need to enter this as an investment sale using as the cost basis the value of the land when you inherited it in 1992. This can be found from consulting historical records of properties if the land or similar parcels were sold within two years of your inheritance. You may need to consult a licensed appraiser to determine an accurate historical value.
Once you have your basis in the land, you will be able to enter the sale of the land by following the instructions in this TurboTax help article.
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