@63qh wrote:
I inherited 20-acres of Ohio farmland in December of 2014. I sold it in February of 2022. There was no appraisal. How is my basis best determined?
An appraiser can usually do an appraisal for an older date by using historical records.
Remember that if audited, the IRS does not have to award you any basis you can't prove adequately, and they could assign zero basis and make the entire selling price a capital gain. An estimate might be enough (such as from the county extension office), but the better your proof, the better your protection in case of audit.
