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. What Is a 1031 Exchange? A look at 1031 Exchanges, a real estate investment strategy that may allow you to defer your capital gains taxes. The Most Overlooked Item of Any Home Improvement The item most homeowners forget on their home improvement project checklist is insurance.