You may not borrow from your IRA.
The money you will take from the IRA will be deemed distribution - and will be added to your other taxable income.
However - such distribution from inherited IRA will not be subject of 10% penalty.
The distribution will reported on the form 1099-R - http://www.irs.gov/pub/irs-pdf/f1099r.pdf - in the box 7 - there should be reported a distribution code 4 - means - the distribution if due to death of the original owner. - please confirm that with the administrator of your IRA.
It is not recommended to take a large distribution during any single tax year because the distributed amount will be added to your other taxable income - and might push you into higher tax bracket. It better to spread the distribution over several years.
Let me know if you need help to estimate your tax liability.