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 Question Thank you! Oops! Related Contents The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Five Most Overlooked Tax Deductions Five overlooked tax deductions to help manage your tax bill. Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one.