Your basis in inherited property is equal to the fair market value on the date of death. 

So the 2008 appraisal is treated as the price you paid for it.

Which form do I use to show loss on farm land sale?

Which Federal tax form do I use?

Gain or loss is computed on your cost basis, what you originally paid for it, the fair market value of it as of the date of death (if you inherited  the property) or the giver's basis (if you received the property as a gift).

To report this sale in TurboTax  follow these steps.

• Go to Federal Taxes and Choose Wages and Income.
• Scroll to Investment income, and choose Stocks, Mutual Funds, Bonds, Other.
• On the  screen Choose the type of investment you sold choose Everything Else.
• On the screen Tell Us How You Acquired This Property choose Inheritance. And continue answering the interview questions.

TurboTax will complete  Form 8949, Sales and Other Dispositions of Capital Assets, to report your gain or loss from the sale.