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. Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content Does Your Child Need to File an Income Tax Return? When your child has income, there’s a good chance that he or she will need to report it and pay taxes. Can I Refinance My Mortgage? This calculator can help determine whether it makes sense to refinance your mortgage. TIPS for Inflation If you are concerned about inflation and expect short-term interest rates may increase, TIPS could be worth considering.