The IRS treats bitcoin and other cryptocurrency transactions as property and not as currency. As such, you must figure gain on the transaction in the same way as with any other type of property. The IRS posted guidance (https://www.irs.gov/pub/irs-drop/n-14-21.pdf) on this matter several years ago, but may revisit the topic, so stay alert.
Generally, an unmarried person who maintains a household for dependents and is allowed to compute his or her tax based on head of household rates, which are more favorable than single person rates.