Find and read: IRC 163(h)(4)(A)(i), Treasury Regulation (Reg.121-1 and IRC 280A(d)(1) Rev. 71-179, 1971-1 CB 58 and Reg.163-1(b).

Find and read:

IRC § 163(h)(4)(A)(i),

Treasury Regulation (Reg.) §1.121-1 and

IRC § 280A(d)(1)

Rev. Rul. 71-179, 1971-1 CB 58 and

Reg. §1.163-1(b).

Donald Trapp owns a home that is used as a residence by his children and grandchildren.  The children give money to Donald that is less than a fair rent so he can pay the mortgage and property taxes.  Can Donald deduct the interest and property taxes as an itemized deduction?  Explain.