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 | 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. How to Make the Tax Code Work for You When you take the time to learn more about how it works, you may be able to put the tax code to work for you. Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one.