topic I need to know the impact on my 2017 state and federal tax return if I sell $100,000 of farmland with no cost basis in 2017. in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-need-to-know-the-impact-on-my-2017-state-and-federal-tax-return-if-i-sell-100-000-of-farmland-with/01/448002#M57270 Tue, 04 Jun 2019 22:46:15 GMT aandpspenst 2019-06-04T22:46:15Z I need to know the impact on my 2017 state and federal tax return if I sell $100,000 of farmland with no cost basis in 2017. https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-need-to-know-the-impact-on-my-2017-state-and-federal-tax-return-if-i-sell-100-000-of-farmland-with/01/448002#M57270 Tue, 04 Jun 2019 22:46:15 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-need-to-know-the-impact-on-my-2017-state-and-federal-tax-return-if-i-sell-100-000-of-farmland-with/01/448002#M57270 aandpspenst 2019-06-04T22:46:15Z You can use the calculator in the link below (through ste... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-can-use-the-calculator-in-the-link-below-through-ste/01/448013#M57272 <P>You can use the calculator in the link below (through step 3) to estimate the amount of taxes due for property with no basis. You will need to look up the state capital gains rate for your state. Contact your state's revenue department.</P><P>Are you certain there is no basis? A reasonable estimate using historical data (county records)&nbsp;would be better than claiming no basis at all. &nbsp;</P><P> <A href="https://apiexchange.com/capital-gain-tax-calculator/" rel="nofollow" target="_blank">https://apiexchange.com/capital-gain-tax-calculator/</A> <BR /> </P> Tue, 04 Jun 2019 22:46:17 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-can-use-the-calculator-in-the-link-below-through-ste/01/448013#M57272 PaulaM 2019-06-04T22:46:17Z