Because you did not live in the home, this response assumes it was not your primary residence. Thus, the home you and your siblings inherited appears to be an investment property; and therefore, if you sell the home you will pay a capital gains tax on any profits. Understanding your basis (or cost) in the home is an important consideration because whether you had a capital gain or capital loss will depend on your basis in the home. Generally, the basis of a home that is inherited, is the fair market value of the home on the date of the death of the decedent. Thus, you and your siblings will need to determine the value of your father's home on the date of death.
You may have seen other posts relating to the capital gain exclusion as it relates to a primary residence. That capital gain exclusion does not appear to apply to your situation because the home was not your primary residence. In order to take advantage of the capital gain exclusion, a taxpayer needs to show, among other things, that the home that was sold was a primary residence.
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