Illinois Crypto Tax Calculator
We built this free crypto tax calculator for residents of Illinois who want to check calculations quickly. Our calculator is for informational purposes only. Please consult a CPA or tax professional. Use cryptocurrency tax accounting software if you have lots of trades.
Illinois has a flat tax rate of 4.95% that applies to both short-term and long-term capital gains. To calculate Federal taxes, please use our USA tax calculator.
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Calculate for freeHow to Use the Tax Calculator
- Enter the Total Cost of First Purchase: This is the initial amount you spent to buy the cryptocurrency.
- Enter the Amount of Sale: This is the total amount you received when you sold the cryptocurrency.
- Click on the Calculate Tax button to get the estimated tax on your capital gains.
Note: This is an estimation and may not reflect your actual tax liability. Always consult with a tax professional when filing your taxes.
Illinois Tax Rate
| Rate | Income Range |
|---|---|
| 4.95% | All income levels |
Illinois has a flat tax rate system, meaning all income including capital gains is taxed at the same rate of 4.95%, regardless of the amount earned.