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 | Have A Question About This Topic? Name Email Address Question Thank you! Oops! Related Content When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases. Your Changing Definition of Risk in Retirement A change in your mindset during retirement may drive changes to your portfolio. Do You Owe The AMT? If you want to avoid potential surprises at tax time, it may make sense to know where you stand when it comes to the AMT.