If the family farm is a second home for you--and you don't rent out the residence--you can deduct the same things you can for your primary residence: property taxes and mortgage interest. If you do rent out the residence, you must use it for more than 14 days or more than 10% of the number of days you rent it out, whichever is longer, for the mortgage interest to be deductible.
If it is not a second home, only the property taxes are deductible.
If you rent the property or engage in a bona fide farming operation, there are other tax consequences.
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