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 | Want to be Smarter With Your Money? Join our mailing list and get news and info to support your financial goals. First Name Last Name Email Address 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. What If You Get Audited? The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing. Tax Management Strategies Learn more about taxes, tax-favored investing, and tax strategies.