Second home mortgage

[Lisaficken]

I live in Iowa, and my parents are in the middle of a divorce in Illinois. My father moved to Wisconsin and tried to buy a home. My mother refused to cooperate, so he was unable to get the mortgage in his name (since they are still married), even though he had already been approved. So I actually purchased the home in my name only for him. This is my second mortgage as I have a condo in Iowa. My father is living in the home in Wisconsin and making the mortgage payments. My question concerns the tax aspect of this situation. My father spoke to someone who told him there is a new IRS ruling that states that he can deduct the mortgage interest even though it is in my name because he was approved for the loan and is making the actual payments. Does this sound right?
Thanks
Lisa

 

[Not given]

He might be able to claim you were his nominee but he'd better ask his tax adviser. And my hat's off to you for being a caring daughter!