It would help if you told us which YEAR the iMac was made.
Can you boot it from internet recovery?
Command-OPTION-R
at boot.
If it's connected to the net via wifi, you'll need the wifi password.
It takes a little time for the utilities to load.
It ought to be able to boot from internet recovery even if the internal fusion drive won't boot.
When you get to the utilities, open Disk Utility.
If there is a "view" menu, choose "show all devices" (very important that you do this).
If there isn't a "view" menu, don't worry about it.
Now, look on the left and see what shows up.
Can you erase any of it, and start over?
Take a phone pic and post what you see.