looking for general (tax) advice regarding holding 2 properties

[John Bae]

here are the facts, TH is in my name and parents live there.  I live in a condo with my wife and title and mortgage is in her name.  this is also my primary residence now.  will be filing jointly for taxes this year.  we will deduct mortgage interest for condo, can i do the same for TH as well as a second home?

parents pay for rent on the TH and i do not profit any from the 'rent'. I lived there before i was married (last year). what would be my best play here? (both properties in VA).

[John Bae]

thanks for the replies @Peter Mckernan and @Fulton Abraham Sanchez

I did a little more digging and found more resources in case anyone else has the same question:

• 2016 IRS content on Home Mortgage (here's the pdf version)
• In more understandable / succinct version
• Deducting mortgage interest where family member lives
• based on ownership interest
• Equitable home owners deduction