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 Question Thank you! Oops! Related Content To Buy or Not to Buy The decision whether to buy or rent a home may have long-term implications. What If You Get Audited? The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing. Insurance Needs Assessment: When You're Young and Single Even if you’re young and single, you should still consider protecting yourself.