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 Message Thank you! Oops! Related Content Emotional vs. Strategic Decisions Information vs. instinct. Are your choices based on evidence of emotion? 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. Risk Perspective Is it possible to avoid loss? Not entirely, but you can attempt to manage risk.