First, you wait until the IRS has completely processed your income tax return and issued you a refund or cashed your check. Only then do you amend. Since long term gains are taxed at more generous rates than short term gains you probably are due a refund in any case so this is something you don't have to do before April 15.
This FAQ
pretty much guides you through the process. The long and short of the process, (pun?) is that you go back to that trade and change the date acquired to the correct date, and then you click the blue "I'll enter additional info" button and on the next page change the holding period from short term (per broker) to long term. You'd think that simply fixing the date will take care of things but it doesn't. TurboTax uses the sales category used by the broker even if the acquired/sold dates suggest otherwise.
Tom Young
First, you wait until the IRS has completely processed your income tax return and issued you a refund or cashed your check. Only then do you amend. Since long term gains are taxed at more generous rates than short term gains you probably are due a refund in any case so this is something you don't have to do before April 15.
This FAQ
pretty much guides you through the process. The long and short of the process, (pun?) is that you go back to that trade and change the date acquired to the correct date, and then you click the blue "I'll enter additional info" button and on the next page change the holding period from short term (per broker) to long term. You'd think that simply fixing the date will take care of things but it doesn't. TurboTax uses the sales category used by the broker even if the acquired/sold dates suggest otherwise.
Tom Young