The more I think about this the more I think you should consult with a tax professional (not a storefront seasonal tax preparer.)
The problem is the difference between "ordinary income property" and "capital gains property" as defined on page 11 of publication 526. https://www.irs.gov/pub/irs-pdf/p526.pdf
Real estate held more than 1 year is capital gain property, except when it is income property. And income property includes rental property, except when it is capital gains property. I'm a bit confused. And your situation is not quite normal because you say the FMV when you inherited it is the same as the FMV now, so you don't actually have a capital gain other than that due to depreciation, which is ordinary income.
I think this means that your only deduction allowed is the current depreciated value of $155,000. (You already deducted the other $70,000 over the last 10 years of renting.) Because you don't have a capital gain (other than depreciation) you can deduct the $155,000 using the 30% rule for 50% charities; e.g. $38,000 per year for the next 4 years.
But you should see a pro.
