Inherited property is always long-term gain or loss. The date does not have to be entered but retain the information with your other paperwork for your tax return should a tax authority have a question at a later time.
Refer to @MindyB above. At the question How did you receive this investment, enter I inherited it.
Report only your portion of the selling price and cost basis. As an example, if the property sold for $300,000 with a cost basis of $330,000, if split three ways, on your tax return report a selling price of $100,000 and a cost basis of $110,000. Retain all your paperwork.
@mandmlewis
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