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Crypto & tax · IL

Illinois Crypto Tax Calculator

Estimate your 2026 federal and Illinois state tax on crypto capital gains, with FIFO, LIFO, or HIFO cost basis.

Cost-basis method — changes which lots are sold
Transactions4
$
$
$
$
$
Estimated tax owedFIFO
$2,405
short-term gains$3,000
long-term gains$8,000
short-term tax$660
long-term tax$1,200
IL state tax$545
total gains
$11,000
estimated tax
$2,405
effective rate
21.9%

A $10,000 crypto gain realized in Illinois attracts about $495 in Illinois tax — a marginal rate of 4.95% — for someone otherwise earning the state median of $84,210. Federal capital-gains tax applies on top.

Illinois taxes capital gains as ordinary income, so the gain stacks on your other income and is taxed at the rate that band falls in. Figures use 2026 Illinois rules and 2026 federal rules, single filer. Holding period decides the federal rate.

Crypto capital-gains tax in Illinois

Illinois has a flat 4.95% income tax, so every dollar of wages is taxed at the same rate no matter what you earn. A per-person exemption of $2,925 for 2026 — up $75 from 2025 — reduces the taxable amount, though it phases out at high incomes. The exemption is the only individual income tax figure that changed this year; Illinois still has no standard deduction.

Capital gains and crypto are taxed as ordinary income in Illinois, at the same flat 4.95% rate that applies to wages.

Common questions

How are crypto gains taxed in Illinois?
Illinois has one rate for everything, so this estimate adds crypto gains to your other income and taxes them at the flat 4.95% that applies to wages for 2026, after a $2,925 personal exemption per filer ($5,850 joint). Any Illinois subtraction or exclusion for long-term gains is not applied here.
How much Illinois tax would a $10,000 crypto gain cost?
About $495. That is the 4.95% flat rate applied to the gain once it is stacked on Illinois's $84,210 median household income (2024), and it is on top of federal capital-gains tax.
Does a bigger gain face a higher Illinois rate?
No — Illinois's rate is flat, so this estimate applies 4.95% to the gain whatever its size: $495 on a $10,000 gain and $4,950 on a $100,000 one. Only your federal rate changes as the gain grows.

How we calculate this

Federal lot-matching per our crypto-tax methodology, plus Illinois's 2026 state treatment of capital gains. Estimates only — not tax advice.

Illinois DOR Informational Bulletin FY 2026-15 — What's New for Illinois Income Taxes →Tax Foundation: 2026 state individual income tax rates and brackets →

More on Illinois tax

Everyday moneyWhat lands in a Illinois paycheckThe same salary split across real pay periods, after federal tax, FICA and Illinois withholding.Everyday moneyIllinois tax brackets and what you oweThe full Illinois schedule — every bracket, the top rate and the deductions applied before them.
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Estimates for general informational purposes only; not tax advice. Crypto tax rules are complex and Illinois state treatment is simplified here — verify with the state Department of Revenue and a tax professional. Illinois's flat 4.95% is applied with the $2,925-per-filer exemption and no standard deduction — itemized deductions and Illinois credits are not modelled. It also excludes any local, county, or school-district tax your municipality may add.