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 Content The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Red Flags for Tax Auditors Here are six flags that may make your tax return prime for an IRS audit. Tax Freedom Day Assess how many days you'll work to pay your federal tax liability.