Taxpayers within these zones are automatically granted this relief without needing to apply, offering some respite as they focus on rebuilding their lives.

That works out to $74,000 per taxpayer.

Each individual owner can have their own Deferred Sales Trust™, the assets of which can be managed to each taxpayer’s own individual risk tolerance and preferences.9) Net rental income.

The interest on the rental is an offset to rental income, and is by definition deducted from your taxes.A 4% interest rate on a primary is like a 4.88% after rate for a taxpayer in the 22% federal tax bracket, or higher if in a state with state income taxes. 

(i) has not attained the age of 19 as of the close of the calendar year in which the taxable year of the taxpayer begins, or(ii) is a student who has not attained the age of 24 as of the close of such calendar year.Here, in black and white, the law specifies that the determination is made as of December 31st and applies to the entire year.

This is due to bonus depreciation which allows taxpayers to deduct 100% of qualifying property costs in the first year, in addition to regular depreciation for new construction and improvement.

I was unaware of the tax-paying requirement you mentioned for adverse possession.

Tenant is having the taxpayer's pay for her rent after all.

@ Dmitriy FomichenkoAt what point did the conversion and tax payment occur? 

This has to do mainly with the timing of property tax payments for your own home (not for your investment properties) and your charitable donations.