Get your taxes done using TurboTax

Assuming you have not been reporting the farming activity,  you can use the installment sale method of reporting which is form 6252. it's under the "less common income section" in Tutbotax. That installment sale must bear interest 

 

you report the date acquired/sold, gross sales price, tax basis as the cost that would be the Date of Death (fair market) value in 2001 plus improvements made, sales expenses, and the principal and interest collection for year. If there is no interest see a tax pro. 

 

 

if you have been reporting the farming activity in your 1040, and have multiple assets that were being depreciated,  you may need a tax pro to do the return.