Three years ago my deceased parents left three houses totalling about $550,000 to me and my three sisters without a will. In succession, it was ordered that we all own the property equally (approximately $135,000 each). Over time, the properties have deteriorated some, and have gone vacant. Because I live so far away, and in a different state, I sold my interest in the properties last year to one of my sisters for $60,000. Do I have to pay taxes on the $60,000? Or am I eligible for a write off?
I know that my loss against value is well over $30,000...
How do I address this on my taxes?

Your cost basis in the properties is equal to the fair market value of your portion of ownership as of the date of death of your parent (you say you inherited the property from both parents - did they both pass away simultaneously?). I assume that's what you meant by the $135K amount. You then sold the properties for a total of $60K. Hence you have a $75K loss. Unfortunately you can not deduct that loss, as losses on personal property are not deductible (I assume here that you made no attempts to rent out the properties, so they can not be considered business losses). Bottom line - there are no taxes due, nor write-offs available.

Not knowing the particulars of the transaction with your sister - if you receive a 1099-S form, which documents your sale, you should report the sale on schedule D of your Form 1040. You would show the proceeds received (the $60K), your basis ($135K), and $0 as the gain - that way the IRS can see that you are not trying to hide the sale. For reference on this see IRS pub 523:
http://www.irs.gov/publications/p523...link1000200792