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Beginners Guide To Cryptocurrency Taxes 2023Cryptocurrency is classified as property by the IRS. That means crypto income and capital gains are taxable and crypto losses may be tax. These rates (0%, 15%, or 20% at the federal level) vary based on your income. Higher income taxpayers may also be subject to the % Net Investment Income Tax. Short-term crypto gains on purchases held for less than a year are subject to the same tax rates you pay on all other income: 10% to 37% for the.