Ental "owned by spouse" box is checked on Schedule E (red "X" shows in box), but when change filing status to married, filing separately, the asset still shows?

[Anita01 · Accepted solution]

It's not a good idea to simply change the filing status on a joint return to married separate.  It does not give you an accurate idea of the difference in the two returns.  As you can see, you must go back through and change or delete all the income and expense items that were related to the other spouse.  Then, if you change back to married joint, you need to go back through to make all the changes again. Also, some credits have different questions depending on the filing status on your return, so you would have to revisit each of the credit sections to answer the questions  again.

The proper way to compare the filing statuses is to prepare a joint return, then start over to do a married separate return in  a new account.  Only file the one you want.