If you itemize your deductions on Form 1040, Schedule A (PDF), Itemized Deductions, you may still be able to deduct your personal portion of mortgage interest, property taxes, and casualty losses on that schedule. There's a special rule if you use a dwelling unit as a residence and rent it for fewer than 15 days.
According to Harvard Medical School, you will burn about 240 to 356 calories per hour doing water aerobics, which is lower than the 420- to 622-calorie expenditure from participating in one hour of step aerobics at a low intensity.
Aerobic exercises, such as running, cycling, and jumping rope, are excellent at burning excess sugar in the body, but to burn fat, aerobic exercises must be done for 20 minutes or more, forcing the body to use anaerobic respiration.