Oklahoma Crypto Tax Calculator
We built this free crypto tax calculator for residents of Oklahoma 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.
Oklahoma taxes capital gains as regular income, with rates ranging from 0.25% to 4.75%. To calculate Federal taxes, please use our USA tax calculator.
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Calculate for freeOklahoma Tax Brackets (2024)
| Single Filers | Married Filing Jointly | Tax Rate |
|---|---|---|
| $0 to $1,000 | $0 to $2,000 | 0.25% |
| $1,000 to $2,500 | $2,000 to $5,000 | 0.75% |
| $2,500 to $3,750 | $5,000 to $7,500 | 1.75% |
| $3,750 to $4,900 | $7,500 to $9,800 | 2.75% |
| $4,900 to $7,200 | $9,800 to $12,200 | 3.75% |
| Over $7,200 | Over $12,200 | 4.75% |
Special Deductions
Oklahoma offers a 100% capital gains deduction for certain qualifying investments. However, this deduction typically does not apply to cryptocurrency investments. Consult a tax professional for more information about qualifying investments.
Cryptocurrency Taxation in Oklahoma
Key Points
- Progressive Taxation: Oklahoma taxes crypto gains at rates from 0.25% to 4.75%.
- Multiple Brackets: Six different tax brackets based on income level.
- No Distinction: Oklahoma 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
While Oklahoma has multiple tax brackets, the thresholds are relatively low. Most active traders will fall into the top bracket. Keep detailed records of all transactions for accurate reporting.