How to Integrate Gemini with Koinly

Effortlessly calculate your Gemini taxes and generate the appropriate tax forms to submit to your tax authority. Koinly integrates with Gemini and makes tax reporting a piece of cake.

API Import CSV File Import

How to integrate Gemini with Koinly

Gemini is a user-friendly crypto exchange platform ideal for investors of all experiences. More experienced investors can enjoy the ActiveTrader platform within the exchange, while all crypto investors will enjoy the peer-to-peer trading platform available.

How to get a tax statement from Gemini

You might be wondering, does Gemini provide CSV tax and trade history reports? What about a Gemini tax API? Is it even possible to get tax info and statements from Gemini? The good news is, while Gemini might not provide tax forms and documents, Gemini does offer 2 easy ways to export transaction and trade history!

Gemini pairs with Koinly through API or CSV file import to make reporting your crypto taxes easy. Once connected, Koinly becomes the ultimate Gemini tax tool. How? Koinly will calculate your Gemini taxes based on your location AND generate your EOFY tax report, all within 20 minutes! All you’ll need to do at tax time is download your Gemini tax statement from Koinly and file it with your local tax authority. Done!

How does Koinly work with Gemini?

Koinly works by importing your Gemini transaction data. Let's look at an example - here's some transactions in a Gemini account.

Gemini transaction history example

You can import your Gemini transaction history via API integration or by uploading CSV files of your Gemini transaction history. Once you've done this, you'll be able to see your Gemini transactions in Koinly - like this.

Gemini transactions in Koinly

This lets you manage all your crypto transactions - from Gemini and any other exchanges you use - from one single platform, making crypto tax simple. Here's how to import your Gemini transaction data.

Connect to Koinly with the Gemini tax report API

On Koinly

  1. Sign up or log in to your Koinly account and go to the Wallets page.
  2. Select add new wallet: Gemini.
  3. Select set up auto-sync.
  4. Head over to Gemini.

On Gemini

  1. Log in to Gemini.
  2. In the top right corner, select account.
  3. From the drop down menu, select settings.
  4. On the left hand menu, select API.
  5. Select create new API key.
  6. Complete two-factor authentication and enter the authentication code.
  7. Under the scope drop down menu, select primary.
  8. Select next.
  9. Name your API key, for example, Koinly.
  10. Under API settings, check the Auditor box.
  11. Copy your API key and API secret. Save your API key in a secure location - you will not be able to access it again.
  12. Check the API secret acknowledgement box.
  13. Select create API key.

On Koinly

  1. Paste the API key and API secret into Koinly.
  2. Select secure import.

Good to know
Remember to save your API secret in a secure location - or even write it down. You won't be able to access it again on Gemini once you've created the API.

How to import your Gemini tax report CSV file to Koinly

On Gemini

  1. Log in to your Gemini account.
  2. In the top right corner, select account.
  3. From the drop down menu, select balances.
  4. Select the export icon.
  5. Select history.
  6. Select a date range.
  7. Select download.xlsx

On Koinly

  1. Sign up or log in to your Koinly account and go to the Wallets page.
  2. Select add new wallet: Gemini..
  3. Select import from file.
  4. Upload your CSV file.

Good to know
Koinly needs your complete transaction history from Gemini - for however long you've been trading with your Gemini account. You can set your date range to include this entire time period.

How do I check my Gemini import is accurate?

Checking your transactions and correcting any inaccuracies lets Koinly calculate and generate the most accurate tax reports. There are some simple steps you can follow to make sure your Gemini tax report is accurate.

Sync all wallets, exchanges and blockchains

Start by making sure all your wallets and exchange accounts are synced with Koinly. This lets Koinly identify which transactions are transfers and which are deposits or withdrawals.

Look out for big numbers

Under the transaction page, you can filter by the type of transaction as well as by the amount to identify and amend any transactions that you believe to be incorrect. For example, large withdrawals or deposits that are actually transfers between wallets is an easy fix.

Review the labels of your transactions

Finally, review the labels on your transactions. There are some instances when transactions like rewards or mining income aren't marked in the imported data.

Withdrawal Labels (sending funds):

Withdrawals refer to sending coins, tokens and funds. Koinly sees these as a disposal of an asset, which makes the transaction subject to Capital Gains Tax in most countries. But, some withdrawals are tax free and you should label these using withdrawal tags.

  • Sent to pool: Sending coins to a pool? Mark these as sent to pool. It lets Koinly know you still hold these assets.
  • Tag as costTag any transaction fees.
  • Tag as lost: If you have crypto stolen, in many countries you can claim this as a loss.
  • Tag as gift: Gifting crypto is often a non-taxable event in many countries, so make sure to tag these.

Deposit Labels (receiving funds):

Deposits refer to receiving new coins. Koinly sees deposits as a purchase at market price or an investment. They can be subject to Income Tax or Capital Gains Tax, depending on your location and the type of deposit. Check the labels to make sure the right tax is applied.

  • Tag as mining: Most countries treat mining as a form of income and apply Income Tax.
  • Tag as airdrop: Most countries see airdrops as a bonus and apply Income Tax.
  • Tag as income: Crypto income is subject to Income Tax, not Capital Gains Tax - just like any other salary
  • Tag as loan interest: If you're loaning crypto and receiving interest, use this tag. Many countries apply Income Tax to interest.
  • Tag as fork: Just like airdrops, new coins from a fork may be subject to Income Tax.
  • Received from pool: Use this tag to mark the capital you originally sent to a pool, not any rewards from it.
  • Tag as reward: This tag can be used to mark any deposits you receive as a reward, for example staking rewards. In most countries, rewards are subject to Income Tax.

Exchange Labels (trading funds):

Trading crypto for crypto, buying crypto with fiat and selling crypto for fiat are exchanges. Trades are sometimes taxed (depending on where you live), buys are never taxed and sells are always taxed. Koinly calculates all this on your behalf, so there's only one exchange tag you may need.

  • Tag as swap: If a coin has exchanged its symbol or name, use the swap tag, as this is tax free.

It's really helpful to use our Getting Started Guide before reviewing your transactions.

How do I troubleshoot my Gemini integration to Koinly?

Koinly has a great help section here with plenty of excellent advice form our awesome customer support team. You'll find answers to common queries about integrating Gemini and Koinly there. Here's some of our most frequently asked questions about Gemini integration:

You can find more Gemini and Koinly help on our discussion forum too. If you need any further help, don't hesitate to contact our customer support team who will be happy to help resolve your query.