Crypto Tax Rate Guide: Rules, Rates & Calculator
Crypto investments have surged to new highs, making the 2025-2026 period a crucial time for crypto holders to understand how IRS rules affect them. The crypto tax rate landscape has shifted, and the IRS continues tightening its reporting requirements. So, what do you need to know now?
In this comprehensive guide, you'll discover up-to-date crypto tax rates, how to calculate your crypto taxes, IRS updates for 2025-2026, and how to stay compliant. We'll also provide easy-to-understand tables, a summary of taxable events, advanced DeFi and NFT scenarios, and practical ways to use OKX tools to streamline reporting. Read on to make crypto tax season less stressful—and to keep more of what you've earned.
How Is Crypto Taxed in the US?
If you hold, trade, or earn crypto in the US, it’s essential to understand how the IRS treats your assets. The IRS classifies cryptocurrency as "property" rather than currency, which means capital gains tax rules primarily apply. The crypto tax rate depends on whether your profit came from selling, swapping, spending, or earning crypto through activities like mining, staking, or airdrops.
A taxable event is any transaction that results in a realized gain or income. For example, if you sell Bitcoin for a profit, swap Ether for Solana, or spend crypto to buy coffee, you trigger a tax event. Holding crypto without selling, however, does not create a tax obligation.
The difference between capital gains tax and income tax for crypto is crucial. Selling and swapping are generally subject to capital gains tax—either short-term (same rate as regular income) or long-term (lower rates) based on how long you held the asset. Earning crypto (through mining, staking, or airdrops) is taxed as ordinary income at the time you receive it.
💡 Pro Tip: OKX provides a detailed transaction history export, making it easier to identify taxable events and record-keeping for each crypto action you take.
Common Crypto Taxable Events
- Selling crypto for fiat (e.g., USD, EUR)
- Swapping one crypto for another (e.g., BTC to ETH)
- Spending crypto on goods or services
- Receiving crypto from mining, staking, or airdrops
What isn’t taxable? Buying and holding crypto, and transferring coins between wallets you own are not taxable events. Making sense of these events—and recording them correctly—prepares you for tax season.
Capital Gains vs. Crypto Income Tax
Capital gains tax applies when you profit from trading, selling, or swapping crypto. If you bought 1 ETH at $2,000 and sold it a year later for $2,800, your gain ($800) is taxed, either at short-term or long-term rates. Crypto income tax is owed when you earn crypto by mining, participating in staking pools, or receiving an airdrop. The IRS treats these earnings as ordinary income, taxed at your marginal rate when you receive them.
Understanding Crypto Tax Rates (2025-2026 Tables)
Let’s break down how crypto is taxed in the US with fresh 2025-2026 tables for both capital gains and income taxes. The crypto tax rate will depend on how long you held your assets and your total income for the year (your tax bracket).
Short-Term vs. Long-Term Capital Gains
- Short-term capital gains apply when you sell or swap crypto held for one year or less. These are taxed at your regular income tax rates—anywhere from 10% to 37% for 2025.
- Long-term capital gains kick in if you’ve held your crypto longer than a year. These enjoy reduced rates: 0%, 15%, or 20% depending on your taxable income and filing status.
| Holding Period | Crypto Sold Date | Tax Rate Applied |
|---|---|---|
| 1 year or less | Buy Jan 2025, sell Nov 2025 | Short-term (10-37%) |
| More than 1 year | Buy Jan 2025, sell Feb 2026 | Long-term (0-20%) |
2025/2026 Federal Capital Gains Tax Rates
| Filing Status | 0% Rate Up To | 15% Rate Up To | 20% Rate Above |
|---|---|---|---|
| Single | $45,000 | $496,600 | $496,600+ |
| Married Joint | $90,000 | $553,850 | $553,850+ |
| Head of Household | $60,000 | $527,550 | $527,550+ |
Note: Income bracket thresholds are estimates for 2025-2026. Always verify on official IRS charts when filing.
Income Tax Rates for Crypto Earnings
If you mine, stake, or receive airdropped tokens, the value is taxed as ordinary income—recorded at its fair market value on the date received.
| Taxable Crypto Activity | IRS Reporting Form | Tax Rate |
|---|---|---|
| Mining | W-2 or 1099-NEC | Ordinary (10-37%) |
| Staking | 1099-MISC | Ordinary (10-37%) |
| Airdrop | 1099-MISC | Ordinary (10-37%) |
💡 Pro Tip: Use OKX’s export tools to download all income-earning transactions into .csv files tailored for most tax software, saving you time and reducing reporting errors.
What Crypto Transactions Are Taxable (and Not Taxable)?
Sometimes, the hardest part is just knowing which crypto moves actually result in a tax bill. Here’s a quick reference table to simplify IRS crypto tax rules:
| Transaction Type | Taxable? | IRS Notes / Form |
|---|---|---|
| Buying crypto with fiat | No | Not a taxable event |
| Holding crypto | No | Not a taxable event |
| Transferring between own wallets | No | Report only if record-keeping needed |
| Selling crypto for fiat | Yes | Report capital gains/losses (Form 8949) |
| Swapping crypto for crypto | Yes | Each swap triggers gain/loss |
| Spending crypto on goods/services | Yes | Value at spend triggers gain/loss |
| Receiving mining/staking/airdrop rewards | Yes | Ordinary income when received (1099) |
| Gifting crypto (up to $18,000 in 2025) | No, for giver | Over $18k triggers gift tax forms |
| Donating crypto to charity | No | Deductible if documented |
| Inheriting crypto | No (usually) | Step-up in basis applies |
Taxable Events
You owe taxes when you:
- Sell your crypto for cash or stablecoins
- Swap one coin or token for another
- Use crypto for purchases or services
- Receive any mining, staking, or airdrop rewards
All these actions must be tracked and reported to the IRS. OKX’s dashboard and transaction history export cleanly categorize each action for high-accuracy reporting.
Non-Taxable Events
You don’t owe taxes when you:
- Buy crypto with cash
- Transfer coins between wallets you own
- Gift crypto (below IRS limits)
- Donate crypto to IRS-qualified charities
Keeping these straight is crucial for tax efficiency and peace of mind.
Short-Term vs. Long-Term Crypto Gains: How They’re Calculated
Capital gains taxation varies based on how long asset is held and the eventual sale price. Let’s walk through calculation scenarios.
Worked Example: Buying, Holding, and Selling Crypto
Suppose Jane buys 1 ETH on March 1, 2025, for $2,000. She sells it on April 1, 2026, for $3,000. Here’s how she calculates her gain:
- Basis (cost): $2,000
- Sale price: $3,000
- Capital gain: $3,000 - $2,000 = $1,000
- Holding period: More than one year (long-term)
- Tax owed: $1,000 × her long-term capital gains rate
If Jane had sold in January 2026, it would be short-term, taxed at her ordinary rate.
Capital Loss Harvesting in Crypto
Capital loss harvesting allows you to offset capital gains with crypto losses. For example, if Jane also sold another coin at a $500 loss, she could subtract that from her $1,000 gain, reducing her taxable gains to $500. The IRS Form 8949 is where you list each transaction—OKX's reports map cleanly to the fields needed so you can easily transfer data.
Form 8949 Example (simplified):
| Description | Date Acquired | Date Sold | Proceeds | Cost Basis | Gain/Loss |
|---|---|---|---|---|---|
| 1 ETH | 03/01/25 | 04/01/26 | $3,000 | $2,000 | $1,000 |
Crypto Tax Rates for NFTs and Digital Collectibles
NFTs—and other digital collectibles—have their own unique crypto tax implications.
IRS Guidance: NFTs and Tax
As of 2025-2026, the IRS is evaluating whether NFTs should be taxed as "collectibles" (like art or coins). If classified as collectibles, gains could be taxed at up to 28%, higher than standard crypto rates. Current IRS guidance leans toward collectible treatment for many NFTs, but consult the latest notices or a tax advisor for your asset type.
For everyday trading or flipping NFTs, you may owe short-term or long-term capital gains (or losses), just like regular crypto. Keep an eye on official updates for NFT-specific rates each tax year.
OKX users can export detailed NFT trading history, simplifying the tracking and reporting of gains for each NFT sale or transfer.
State and International Crypto Tax Rates Explained
Federal rates are only part of your crypto tax equation—state and international rules could also affect your bottom line.
Crypto Tax by State (US)
| State | State Tax on Crypto Gains? | Notes |
|---|---|---|
| California | Yes (up to 13.3%) | Crypto taxed like any capital gain |
| New York | Yes (up to 10.9%) | Additional city tax possible |
| Florida | No income tax | No tax on crypto, but federal rates still apply |
| Texas | No income tax | No state tax on crypto gains |
Always check your state’s latest guidance or the OKX state selector for personalized resources.
International Crypto Tax Highlights
- United Kingdom: Crypto capital gains above £6,000 (2025) are taxed at 10%/20%.
- Australia: Crypto is subject to capital gains tax; lower rates if held >12 months.
- Canada: Only 50% of your crypto gain is taxed as income.
Check your country’s tax authority for up-to-date information, or review OKX’s global user tax guides.
Advanced Scenarios: DeFi, Derivatives, Lending, and New IRS Forms
For experienced traders or advanced DeFi users, crypto taxes get more complex. Here’s what to know for 2025-2026.
DeFi and Derivatives Taxation
DeFi yield farming, lending, and LP token positions can all result in taxable events. Earning interest from DeFi lending is typically taxed as ordinary income. Trading perpetual contracts, futures, or options is taxed according to the capital gains rules—each buy and sell, including closing a leveraged position, needs reporting.
Liquidations, protocol token rewards, and governance airdrops also carry tax obligations. OKX enables detailed export of DeFi and derivatives trades for easy record-keeping and IRS compliance.
IRS Forms and Deadlines for Crypto (2025-2026)
Big update: The IRS rolls out Form 1099-DA in 2025 for third-party crypto reporting. Most users will still need to complete Form 8949 for every taxable crypto transaction and consolidate these results in their 1040. Key 2025 deadlines include:
- Form 1099-DA mailed: Jan 31, 2026
- Tax return due: April 15, 2026
Tax software and services now integrate with OKX’s automated reports, making this process faster and less stressful.
Crypto Tax Calculation Tools and OKX Reporting Integrations
Tax season doesn’t have to be a headache. Here’s how to automate your crypto tax calculations and get your OKX data ready for submission.
How to Use a Crypto Tax Calculator
- Export your full transaction history from your exchanges (start with OKX).
- Upload the file to a reputable crypto tax tool—like Koinly, CoinTracker, or TokenTax.
- The calculator classifies each transaction and calculates gains/losses, even across multiple wallets.
- Review results and download the IRS-ready forms.
You can also use our crypto tax calculator for quick estimates.
Exporting Reports from OKX
- Log in to OKX and navigate to “Reports.”
- Select the desired account(s) and time period.
- Click “Export” to generate a .csv or PDF file with all trades, swaps, and income events.
- Import this file into your tax tool, or share with your tax advisor.
Screenshots and a step-by-step OKX reporting guide are available in the OKX Help Center.
Frequently Asked Questions
What is the tax rate on crypto gains?
Short-term crypto gains (assets held one year or less) are taxed at your regular income tax rate, ranging from 10% to 37% in 2025. Long-term crypto gains (assets held over a year) are taxed at capital gains rates: 0%, 15%, or 20%, depending on your total income and filing status. Refer to the 2025 capital gains tax rate tables above for details.
Are crypto-to-crypto trades taxable?
Yes. Every time you trade one cryptocurrency for another—such as swapping BTC for ETH—you trigger a taxable event. You must calculate the fair market value of what you trade at the time of the swap and report any gain or loss on your tax return using IRS Form 8949.
How do I report crypto on my taxes?
Report all crypto sales, swaps, and taxable events on IRS Form 8949, listing each transaction and its gain or loss. Summarize these totals on your 1040, Schedule D. For 2025, you may also receive and need to reference Form 1099-DA, which exchanges like OKX may provide.
Do I pay taxes if I just hold crypto?
No. Buying and holding cryptocurrency without selling, spending, or swapping it does not create a taxable event. Taxes are triggered only when you dispose of (sell, swap, spend) your crypto.
Are mining and staking rewards taxed?
Yes. Mining and staking rewards are considered ordinary income by the IRS and are taxed at your regular income tax rate when received. You should report the USD value at the time of receipt, usually disclosed on a 1099 form from your exchange or protocol.
Is crypto ever tax-free?
Some crypto activities are tax-free: transferring coins between your own wallets; giving small gifts (under $18,000 for 2025); and donating to IRS-recognized charities. Always keep records to substantiate tax-free claims.
Conclusion & Pro Tips for Crypto Tax Season
The world of crypto tax rates is evolving fast, with new IRS rules and forms in effect for 2025-2026. Whether you're a beginner or an active DeFi user, understanding the crypto tax rate, keeping detailed records, and being aware of IRS deadlines is essential. Here are the key takeaways:
- Crypto is treated as property; most transactions (sales, swaps, spending, earning) trigger taxes.
- Federal tax rates depend on holding period and total income; state and international rules may also apply.
- Accurate records are your best defense—OKX makes exporting and organizing your transaction history simple.
- IRS Form 1099-DA is new for 2025; always double-check your documentation before filing.
💡 Pro Tip: Start your record-keeping early, and use trusted crypto tax calculators to estimate your tax bill as you go.
Risk Disclaimer: Cryptocurrency trading and tax reporting can involve significant risk. Always consult a licensed tax professional regarding your specific circumstances. Security best practice: Safeguard your OKX and tax tool logins, and always enable two-factor authentication.
© 2025 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2025 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2025 OKX.” Some content may be generated or assisted by artificial intelligence (AI) tools. No derivative works or other uses of this article are permitted.
Related articles
View more