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Crypto & tax · MI

Michigan Crypto Tax Calculator

Estimate your 2025 federal and Michigan state tax on crypto capital gains, with FIFO, LIFO, or HIFO cost basis.

Cost-basis method — changes which lots are sold
Transactions4
$
$
$
$
Filing status
Other taxable income Excluding crypto
$
Estimated tax owedFIFO
$2,328
short-term gains$3,000
long-term gains$8,000
short-term tax$660
long-term tax$1,200
MI state tax$468
total gains
$11,000
estimated tax
$2,328
effective rate
21.2%

Crypto capital-gains tax in Michigan

Michigan levies a flat 4.25% income tax for 2025 — the state's revenue-trigger formula did not produce a rate cut this year. There is no standard deduction, but each filer gets a $5,800 personal exemption. About two dozen Michigan cities, including Detroit, levy local income taxes that are not included in this estimate.

Common questions

How is crypto taxed in Michigan?
At the federal level, crypto is property and gains are taxed as short- or long-term capital gains. At the state level, Michigan taxes crypto capital gains as ordinary income — the same rate as your wages, with no long-term discount.
Does Michigan have a lower rate for long-term crypto gains?
No — unlike the federal system, Michigan does not give long-term gains a preferential state rate; they're taxed the same as short-term gains.

How we calculate this

Federal lot-matching per our crypto-tax methodology, plus 2025 Michigan state treatment of capital gains. Estimates only — not tax advice.

Tax Foundation: 2025 state income tax rates →Michigan Dept. of Treasury →
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Estimates for general informational purposes only; not tax advice. Crypto tax rules are complex and Michigan state treatment is simplified here — verify with the state Department of Revenue and a tax professional.