South Carolina Crypto Tax Calculator

We built this free crypto tax calculator for residents of South Carolina 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.

South Carolina taxes capital gains at rates from 0% to 6.2%, with a special 44% deduction for long-term gains. To calculate Federal taxes, please use our USA tax calculator.

Enter your total income (without capital gains): Total Cost of First Purchase: Amount of Sale: Holding Period:

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South Carolina Tax Brackets (2024)

Taxable Income	Tax Rate
$0 to $3,200	0%
$3,200 to $16,040	3%
Over $16,040	6.2%

Note: Same brackets apply to both single filers and married filing jointly.

Long-Term Capital Gains Deduction

South Carolina offers a 44% deduction for long-term capital gains (assets held for more than one year). For example, if you have $100,000 in long-term gains, only $56,000 will be subject to tax.

Cryptocurrency Taxation in South Carolina

Key Points

Progressive Taxation: South Carolina taxes crypto gains at rates from 0% to 6.2%.
Long-Term Benefits: 44% deduction available for long-term gains.
Holding Period Matters: Consider holding assets for over one year to qualify for the deduction.
Mining Income: Crypto mining is treated as self-employment income and taxed at regular income rates.

Common Tax Situations

Trading & Investment

All crypto trades are taxable events, but long-term holders can benefit from the 44% deduction. Consider your holding period when planning trades.

Tax Planning Tips

The combination of progressive rates and the 44% long-term deduction can result in significant tax savings. Consider holding assets for over a year when possible to qualify for the deduction.