Home Mortgage Deduction Use this calculator to assess the potential benefits of a home mortgage deduction. You are viewing this website at a small screen resolution which doesn't support calculators. Click here to view this calculator. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Do You Owe The AMT? If you want to avoid potential surprises at tax time, it may make sense to know where you stand when it comes to the AMT. Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one.