Interactive compression refers to the problem of compressing data while sending only the part requested by the user. In this context, the challenge is to perform the extraction in the compressed domain directly. Theoretical results exist, but they assume that the true distribution is known. In practical scenarios instead, the distribution must be estimated. In this paper, we first formulate the model selection problem for interactive compression and show that it requires to estimate the excess rate incurred by mismatched decoding. Then, we propose a new expression to evaluate the excess rate of mismatched decoding in a practical case of interest: when the decoder is the belief-propagation algorithm. We also propose a novel experimental setup to validate this closed-form formula. We show a good match for practical interactive compression schemes based on fixed-length Low-Density Parity-Check (LDPC) codes. This new formula is of great importance to perform model and rate selection.