We need more information to better assist you. Why do you think the amount of mortgage interest on schedule A is incorrect?
Make sure you've answered all questions in the mortgage interest section correctly. How much you can deduct depends on the date of the mortgage, the amount of the mortgage, and how you use the mortgage proceeds.
Hello, I entered all information relating to home mortgage interest however turbo tax did not create a schedule A. Was there a glitch on the 2023 TT deluxe software.
Entering the mortgage interest does not guarantee that Schedule A will be generated. Schedule A is ONLY generated if you have more itemized deductions than your standard deduction.
Itemized expenses include mortgage interest, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss. The State and Local Tax deduction does max out at $10,000 regardless of your income. So if your total itemized deductions are less than your standard deduction, then you would not benefit from any of the mortgage interest you paid.
The 2023 Standard Deductions are as follows:
Blind and MFJ or MFS add $1,500
Single or HOH if blind add $1,850