you have another issue. (Jackson, TC Memo 1999-226). there the taxpayer rented below fair rental value to his parents. The court concluded that the parents' use was personal use by the taxpayer because the rent charged was below fair value. The property was 100% personal-use so no rental expenses (schedule E) were allowed. The taxpayer was still required to include the rent in income. any interest and taxes you pay would go on schedule A and be subject to current tax law limitations.
