Indiana

• Crypto capital gains are classified as ordinary income in Indiana, following federal treatment as property.
• State-specific rules tax net capital gains at the flat 3.05% state income tax rate plus local county rates.
• No specific exemptions for crypto gains; standard state deductions and credits apply if income thresholds are met.
• Key rules: Long-term and short-term gains are both taxed as ordinary income; losses can offset gains and up to $3,000 of ordinary income.

• Mining income is taxed as ordinary income in Indiana upon receipt, valued at fair market value.
• Staking rewards are taxed as ordinary income when received, based on their market value at that time.
• State-specific rules follow federal guidelines, taxing crypto income at the flat state rate plus county taxes.
• Key rules: Airdrops and forks are taxable as income; income must be reported if above filing thresholds.

• Report all crypto income, gains, and losses on state tax returns if filing is required.
• Use Indiana Form IT-40 for individuals; attach federal Schedule 1 or D if applicable.
• Key deadlines: State returns due by April 15, or October 15 if extended, matching federal deadlines.

• Indiana conforms to federal Internal Revenue Code for crypto taxation definitions.
• Recent change: State income tax rate reduced to 3.05% effective 2024 from 3.15%.
• County taxes vary by location; check local rates for accurate total.
• No sales tax on crypto transactions in Indiana, but use tax may apply for purchases.