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 The Facts About Income Tax Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. What's My 2022 Tax Bracket? Knowing your tax bracket can make a large difference in your tax preparations. Check out this handy reference of updated ranges from the IRS in case your designated bracket has changed. Comparing Investments This calculator compares the net gain of a taxable investment versus a tax-favored one.