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Crypto Tax in United States

A structured summary of how individual crypto taxation works in United States — the tax regime, headline rate, accepted cost-basis methods, exemptions and anti-avoidance rules.

General information generated from our jurisdiction dataset, not tax advice. Rules change — verify with a local professional.

Individual crypto tax — United States

General Information

Default Framework
IFRS
Crypto Classification
Fair Value (ASU 2023-08)
Tax Year
Calendar Year (M12)
Functional Currency
USD
FX Source (Reporting)
FED
FX Source (Tax)
IRS
Transaction Rate
Daily Spot
Hyperinflationary
✗ No

Individual Tax — Regime

Tax Regime
Capital Gains
IRS Notice 2014-21: crypto = property. Short-term (<1yr): ordinary rates. Long-term (>1yr): preferential rates.
Tax Rate
20%
Long-term: 0/15/20% depending on income. Short-term: ordinary rates up to 37%. NIIT 3.8% may apply.

Individual Tax — Cost Basis

Measurement Basis
Historical Cost
Cost Method
FIFO
Method Electable
✓ Yes
Permitted Methods
FIFO, LIFO, HIFO, WAVG, Specific ID
Country Override
Standard

Individual Tax — Exemptions

CGT Exempt
✗ No
Holding Period
> 365 days
HP Benefit
Rate reduction
Annual Exemption
—
Threshold Exemption
—

Individual Tax — Anti-Avoidance

Wash Sale
✗ Off
Same-Day Rule
✗ No
Superficial Loss
✗ No
Loss Restriction
CAPITAL 3K ANNUAL
Loss Carryforward
Unlimited
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Is crypto taxed for individuals in United States?

United States applies a Capital Gains treatment to individual crypto. The table above shows the headline rate, cost-basis method and any exemptions.

Which cost-basis method does United States use?

See the cost-basis section above for the default method and the alternatives United States permits for individuals.

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