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 Making Your Tax Bracket Work Have you explored all your options when it comes to managing your taxable income? What Is a 1035 Exchange? 1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability. Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one.