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Crypto & tax · NM

New Mexico Crypto Tax Calculator

Estimate your 2025 federal and New Mexico 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
$2,395
short-term gains$3,000
long-term gains$8,000
short-term tax$660
long-term tax$1,200
NM state tax$535
total gains
$11,000
estimated tax
$2,395
effective rate
21.8%

Crypto capital-gains tax in New Mexico

For tax year 2025 New Mexico debuted a restructured six-bracket schedule running from 1.5% to 5.9% — the first major restructuring since 2005 — with different bracket widths for single and joint filers. The state uses the federal standard deduction. Capital gains are taxed as ordinary income, but New Mexico allows a deduction for the greater of $1,000 or 40% of net capital gains, so this estimate can overstate tax on large gains.

Common questions

How is crypto taxed in New Mexico?
At the federal level, crypto is property and gains are taxed as short- or long-term capital gains. At the state level, New Mexico taxes crypto capital gains as ordinary income — the same rate as your wages, with no long-term discount.
Does New Mexico have a lower rate for long-term crypto gains?
No — unlike the federal system, New Mexico 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 New Mexico state treatment of capital gains. Estimates only — not tax advice.

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