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. To Catch a Thief Having your identity stolen may result in financial loss plus the cost of trying to restore your good name. The Importance of Beneficiary Designations Beneficiary designations allow assets to pass directly to whomever you designate thus by-passing the costs and time involved with the probate process.