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. 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. Tax Management Strategies Learn more about taxes, tax-favored investing, and tax strategies.