Inherited Property: establishing cost basis from 2011

The cost basis of the house in 2011 should be reported on the taxes done by the CPA. You need to look at the tax return from last year to see what the asset basis and depreciation have been reported since 2011. The tax return from  2021 will have a depreciation schedule that is not included in the forms sent to the IRS, but are information pages that list the initial cost basis of the house, land, and improvements and show how much depreciation has been taken for these items in the past. 

Removed my original response, as I didn't take into account that this was inherited property. The cost basis would be the FMV of the property on the date the person you inherited it from, passed away. You can look at the two 4562's that print in landscape format from any year since you started reporting the property on your own tax return, to get the cost basis of the property any any other assets or property improvements done since you acquired the property. The 4562's from the most current year would be best.

You may also need the IRS Form 8582 from the 2021 tax return, as that will show you the PAL carry over losses which are released in the tax year you sell the property. You'll be able to claim/deduct those too. If you don't have an 8582 from the 2021 tax return, that just means there were not carry over losses from 2020, or to be carried forward to 2023.

since it was a rental the Fair Market Value on the date of death and all the depreciation taken should be on the 2021 return. that depreciation reduces your tax basis and hence increases any gain on the sale. you need to continue to report the 2022 rental and take depreciation. then you enter the disposition info in the rental asset section which needs to be allocated among the building, land, and any capital improvements after you inherited it.