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.
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.
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!
Koinly works by importing your Gemini transaction data. Let's look at an example - here's some transactions in a Gemini account.
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.
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.
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.
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.
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.
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.
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.
It's really helpful to use our Getting Started Guide before reviewing your transactions.
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: