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. i need to write a memoto Donald explaining whether he can deduct the interest and property taxes as an itemized deduction in 2018, Can i get an appropriate template.