Some tax surprises that new investors may need to know

(STL.News) Accountants and tax preparers are getting flooded with business from new stock traders who are just getting their 2020 tax bills because many didn’t know the gains on a stock held less than a year are taxed at ordinary income rates rather than at the lower capital gains tax rates.

Joel Griffith, research fellow at the Heritage Foundation, and Jared Walczak, States Projects vice president at the Tax Foundation, joined “Squawk Box” on Friday to discuss.

YouTube video provided courtesy of CNBC-TV