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How To Get Your Gemini Tax Documents With Koinly

Get your Gemini tax documents in minutes with Koinly cryptocurrency tax calculator. Wherever you live, Koinly can help you calulate your Gemini taxes and report them to your tax office.

API Import CSV File Import
Last updated: Monday, 3 October 2022

Connect Gemini with Koinly to calculate your crypto tax

Gemini is a user-friendly, popular crypto exchange, ideal for investors of all experiences with a huge range of investment options available including P2P trading, Gemini Earn, and the ActiveTrader platform for more experienced investors. Whatever your Gemini investments, Koinly can help you do your Gemini taxes in no time at all.

How are Gemini transactions taxed?

Crypto tax varies depending on where you live (so check out our country tax guides). However, in general, you'll pay one of two taxes on your Gemini transactions:

  • Capital Gains Tax: If you've sold or traded crypto on Gemini, you'll pay Capital Gains Tax on any profits you've made.
  • Income Tax: If you're earning crypto on Gemini, you may need to pay Income Tax. Transactions that may trigger Income Tax on Gemini include earnings from Gemini earn, BAT rewards and refer a friend, sign up and trading bonuses.

Does Gemini provide tax documents?

Gemini provides some tax documents for US users - including Form 1099-MISC. A 1099-MISC form is issued to US users who have earned more than $600 in income throughout the calendar year and are issued by the end of January the following year. Your 1099-MISC income activities include Gemini Earn rewards, BAT rewards, and refer a friend, sign up and trading bonuses.

Previously, Gemini issued Form 1099-K, but have since stopped issuing these to users. Gemini state that they'll be issuing Form 1099-B, or a similar form designed specifically for crypto assets, to users from 2023. Form 1099-B is a statement of capital gains and losses, but it's often lacking data about cost basis due to the lack of data sharing between exchanges, so it's unclear how accurate these forms may be yet.

If you're outside the US, or need to report more than your income from Gemini, you'll need to get your complete transaction history from Gemini instead and either calculate your Gemini taxes yourself, or use a crypto tax calculator like Koinly to do it for you.

How to get your Gemini tax documents with Koinly

Gemini offers two simple ways to get the tax documents you need - you can either use the Gemini tax API, or export a CSV of your Gemini transaction history and upload that to Koinly.

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.

How to connect Gemini and Koinly via API

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. 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. Paste the API key and API secret into Koinly.
  5. 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 connect Gemini and Koinly via CSV

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.

Does Gemini report to the IRS?

Yes. Gemini issues US users with more than $600 in income with a Form 1099-MISC. Whenever you receive a copy of a 1099 form, the IRS does too. From 2023, Gemini will be issuing US users with a Form 1099-B, or a similar form designed specifically for crypto assets, though it's not yet clear whether that will be all users or users with a certain amount of capital gains.

How do I check if my Gemini import is accurate?

Having problems connecting Gemini and Koinly? Here's where you can find help:

It's really helpful to use our Getting Started Guide before reviewing your transactions. This can help you identify and resolve any issues in no time at all.