The deadline to file taxes is just over one month away, and some might be including cryptocurrency earnings for the very first time. Lisa Greene-Lewis, a tax expert at TurboTax, explains what investors need to be aware of this season.
"The way you use it is the way it's taxed," says Greene-Lewis who has noticed an increased demand for clarification on this type of reporting. "There's more questions coming up as more people are trading."
Greene-Lewis says that, if one is mining cryptocurrency, it becomes taxable when the asset is recognized.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
