Maryland Crypto Tax Calculator
We built this free crypto tax calculator for residents of Maryland 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.
Maryland taxes capital gains as regular income, with rates ranging from 2% to 5.75%. To calculate Federal taxes, please use our USA tax calculator.
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Calculate for freeMaryland Tax Brackets (2024)
| Single Filers | Married Filing Jointly | Tax Rate |
|---|---|---|
| $0 to $1,000 | $0 to $1,000 | 2.00% |
| $1,000 to $2,000 | $1,000 to $2,000 | 3.00% |
| $2,000 to $3,000 | $2,000 to $3,000 | 4.00% |
| $3,000 to $100,000 | $3,000 to $150,000 | 4.75% |
| $100,000 to $125,000 | $150,000 to $175,000 | 5.00% |
| $125,000 to $150,000 | $175,000 to $225,000 | 5.25% |
| $150,000 to $250,000 | $225,000 to $300,000 | 5.50% |
| Over $250,000 | Over $300,000 | 5.75% |
Cryptocurrency Taxation in Maryland
Key Points
- Income-Based Taxation: Maryland treats crypto gains as regular income, with rates from 2% to 5.75%.
- Complex Progressive System: Tax rates increase with income across eight brackets.
- No Distinction: Maryland makes no distinction between short-term and long-term gains.
- Mining Income: Crypto mining is treated as self-employment income and taxed at regular income rates.
Common Tax Situations
Trading & Investment
All crypto trades, including crypto-to-crypto transactions, are taxable events. Gains are taxed based on your total income bracket.
Tax Planning Tips
With Maryland's multiple tax brackets, careful planning of crypto sales across tax years can help manage your effective tax rate. Keep detailed records of all transactions.