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Crypto & tax · MI

Michigan Crypto Tax Calculator

Estimate your 2026 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
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$
$
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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%

A $10,000 crypto gain realized in Michigan attracts about $425 in Michigan tax — a marginal rate of 4.25% — for someone otherwise earning the state median of $79,460. Federal capital-gains tax applies on top.

Michigan 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 Michigan rules and 2026 federal rules, single filer. Holding period decides the federal rate.

Crypto capital-gains tax in Michigan

Michigan levies a flat 4.25% income tax for 2026 — Treasury's April 2026 determination found general fund revenue actually fell, so the revenue-trigger formula produced no rate cut again this year. There is no standard deduction, but each filer gets a $5,900 personal exemption, up from $5,800. About two dozen Michigan cities, including Detroit, levy local income taxes that are not included in this estimate.

Michigan taxes capital gains and crypto as ordinary income, at the same flat 4.25% state rate as wages.

Common questions

How are crypto gains taxed in Michigan?
Michigan has one rate for everything, so this estimate adds crypto gains to your other income and taxes them at the flat 4.25% that applies to wages for 2026, after a $5,900 personal exemption per filer ($11,800 joint). Any Michigan subtraction or exclusion for long-term gains is not applied here.
How much Michigan tax would a $10,000 crypto gain cost?
About $425. That is the 4.25% flat rate applied to the gain once it is stacked on Michigan's $79,460 median household income (2024), and it is on top of federal capital-gains tax.
Does a bigger gain face a higher Michigan rate?
No — Michigan's rate is flat, so this estimate applies 4.25% to the gain whatever its size: $425 on a $10,000 gain and $4,250 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 Michigan's 2026 state treatment of capital gains. Estimates only — not tax advice.

Michigan Dept. of Treasury — 4.25% income tax rate for individuals and fiduciaries in the 2026 tax year (Apr 15, 2026) →Michigan Dept. of Treasury — 2026 Michigan Income Tax Withholding Guide (Form 446, Rev. 02-26) →Tax Foundation: State Individual Income Tax Rates and Brackets, 2026 →

More on Michigan tax

Everyday moneyWhat lands in a Michigan paycheckThe same salary split across real pay periods, after federal tax, FICA and Michigan withholding.Everyday moneyMichigan tax brackets and what you oweThe full Michigan 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 Michigan state treatment is simplified here — verify with the state Department of Revenue and a tax professional. This estimate does not model Michigan city income taxes, including Detroit's resident tax. Michigan's flat 4.25% is applied with the $5,900-per-filer exemption and no standard deduction — itemized deductions and Michigan credits are not modelled.