You must report the entire value of the inheritance, using the US dollar value as of the date of the person's death, not just the cash. Separately, you need to file an FBAR report if you had at any time, a foreign bank account with more than $10,000 US equivalent in it (even if you later closed the account and transferred the funds to the US). The FBAR would be filed for 2022, since it sounds like you didn't have money in the account in your name until 2022.
Yes you need a description of the real estate, but it does not have to be lengthy. ("Apartment 612 at 123 Fake Street, Berlin", or "15 hectares of vacant land in Lazio province, Italy"). See the form 3520.
I'm not sure when to report the inheritance. Due to the need to close probate and the doctrine of constructive receipt, I would think it is more likely to be a 2022 inheritance (since you couldn't actually spend the money or sell the property until 2022). 2022 is when the property was distributed from the estate to you.
@pk any comments?
One important note you did not raise: whenever you sell the real estate, you will owe capital gains tax based on the gain in value over your cost basis, which is the fair market value on the date the previous owner died. It will be worth it to get a qualified appraisal now even if you have to pay for it, it could save you a lot of money later.
