Late Tax Statement

[Snave]

Background: We did our taxes with our accountant a few weeks ago (assuming everything was sent to us). We believed we had everything b/c we got our statement from UBS who we use. The problem is, we had always used McDonald and Co. which I believe was owned by Key Bank. In early 2007 Key sold McDonald and Co. to UBS or something like that. So, that is who I now use. When we got our tax statement from UBS, I looked it over and believed we had everything b/c all our McD & Co info was to have all transferred to UBS. However, I just received a tax statement TODAY from Key Bank for a stock sale in January before they sold McD to UBS. Why in the heck they didn't transfer this info when they sold or switched names, I have no idea?!

Here's my problem. We already sent our taxes in. I know this will be long term capital gains paid on our profits (had the stock for 6 years), but what the heck do we need to do? I am going to call my accountant on Monday, but was wondering if anyone knew what the process might be for this?

[tripods68]

I'm pretty sure you have to file an Amendment on LT capital gain.

[MonkeyMama]

Yup, you'd have to amend your tax return.

[Hypersion]

One year I got three corrected 1099 forms from one of my brokerage accounts. The last one come in late march.

From than on I always waited until April 1st before filing my tax returns.