this is from a article from feb 2010 so unless things have changes, its still NO to felon in his home with a firearm in possession or not!
US v. Balanga, 109 F.3d 1299 (8th Cir. 1997).
Another instructive case is US v. Balanga, 109 F.3d 1299 (8th Cir. 1997). Balanga argued on appeal that there was insufficient evidence to support his conviction for being in possession of a .22 caliber rifle and ammunition found in his basement. Balanga argued that he did not possess a key to his basement door's padlock while another person stored a rifle and ammunition in Balanga's basement. Balanga admitted that he knew of the .22 caliber rifle and the ammunition that was stored in his basement, but argued that because he did not have a key to the basement, he did not have access to the rifle and the ammunition, and therefore did not possess them.
The court disagreed, finding that to convict Balanga of being a felon in possession of a firearm, the government had the burden of proving beyond a reasonable doubt that he "'exercised ownership, dominion or control over the firearms or dominion over the premises'" where the firearms were stored. The court ruled that, "In this case the jury could have reasonably concluded that Balanga failed to refute the normal inference of dominion over his own home. While there was some testimony at trial to support Balanga's assertion that he did not have a key to his own basement during the period in question, there was also evidence that Balanga in fact retained a key."
So, the mere presence of a firearm in the home of a convicted felon (where he has "dominion") will raise a presumption that he is in possession of it in violation of the law. The burden shifts to the prohibited person to prove in court that he had no access whatsoever to the firearm. From the cases, this appears to be a very heavy burden.
Finally, note also that the wife who allows her convicted felon husband to possess the firearm is also guilty of a federal felony under 18 USC 922(d). Transfers of firearms to any prohibited persons is unlawful under federal law.