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 Will You Pay the AMT? Despite recent tax-law changes, many Americans are expected to pay the AMT this year. Tax Deductions You Won't Believe Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative. Tax Management Strategies Learn more about taxes, tax-favored investing, and tax strategies.