For starters, the acquisition/purchase date is the date you inherited it, which is commonly the day your name was put on the deed. As for the prior depreciation, there is no prior depreciation to deal with from before you inherited it. That prior depreciation basically just "disappears and evaporates" for you, as if it never existed.
Now do make absolutely certain that you select the option to indicate you acquired the property by inheriting it. That will insure any gain on the sale is treated as a long term gain, even if you owned the property less than a year. But commonly, when inherited property is sold within a few months of inheriting it, it's not uncommon for the sale price and the FMV of the property to be the same - meaning no gain or loss on the sale. Therefore, no tax consequences.
Now, if the home was not rented between the time you inherited it, and the closing date of your sale, then is *NOT* a sale of rental property. If "you" had no business use of the property in any way, shape, form or fashion, then you report it as the sale of a second home. You'll start in the Investments section and elect to start/update Stocks, Bonds, Mutual Funds, Other and just work it through.
If you *did* rent this property out after you inherited it, then you will report the sale in the Rental and Royalties Income (SCH E) section of the program.
