How to Do Your Gemini Taxes

How To Do Your Gemini Taxes

CoinLedger imports Gemini data for easy tax reporting. Create the appropriate tax forms to submit to your tax authority.

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Gemini Tax Reporting

You can generate your gains, losses, and income tax reports from your Gemini investing activity by connecting your account with CoinLedger. Connect your account by importing your data through the method discussed below.

Gemini exports a complete Transaction History file to all users. Simply navigate to your Gemini account and download your transaction history from the platform.
Import your transaction history directly into CoinLedger. Import the file as is. No manual work is required!
CoinLedger automatically generates your gains, losses, and income tax reports based on this data.

File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

Gemini Tax Reporting

Gemini supports importing data via read-only API. This allows automatic import capability so no manual work is required.
Connect CoinLedger to your Gemini account with the read-only API.
Let CoinLedger import your data and automatically generate your gains, losses, and income tax reports.

File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

Gemini Tax Reporting

You can generate your gains, losses, and income tax reports from your Gemini investing activity by connecting your account with CoinLedger. There are a couple different ways to connect your account and import your data:

Automatically sync your Gemini account with CoinLedger via read-only API. This allows your transactions to be imported with the click of a button.
Upload your Gemini Transaction History CSV file to CoinLedger. You can download your Transaction History CSV directly from Gemini and import it into CoinLedger

Both methods will enable you to import your transaction history and generate your necessary crypto tax forms in minutes. File these forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

Gemini Tax Reporting

Automatically sync your Gemini account with CoinLedger by entering your public wallet address. This allows your transactions to be read in directly from the blockchain.
Upload a Gemini Transaction History CSV file to CoinLedger

Gemini Tax Reporting

Navigate to your Gemini account and find the option for downloading your complete transaction history.
Import your transaction history directly into CoinLedger by mapping the data into the preferred CSV file format.
CoinLedger automatically generates your gains, losses, and income tax reports based on this data.

File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

How Cryptocurrency Taxes Work

Cryptocurrencies like bitcoin are treated as property by many governments around the world—including the U.S. Other forms of property that you may be familiar with include stocks, bonds, and real-estate.

Just like these other forms of property, cryptocurrencies are subject to capital gains and losses rules, and you need to report your gains, losses, and income generated from your crypto investments on your taxes.

For a complete and in-depth overview, please refer to our Complete Guide to Cryptocurrency Taxes.

How To Do Your Crypto Taxes

To do your cryptocurrency taxes, you need to calculate your gains, losses, and income from your cryptocurrency investments in your home fiat currency (e.g. US Dollar, Australian Dollar, etc.).

Once you have your calculations, you can fill out the necessary tax forms required by your country. If you are in the United States, you can learn which forms you need to fill out with our blog post: How to Report Cryptocurrency On Your Taxes.

Why Can't Gemini Generate My Tax Forms?

Many cryptocurrency investors use additional exchanges, wallets, and platforms outside of Gemini. Perhaps you also trade on Coinbase or earn interest from BlockFi. The trouble with Gemini's reporting is that it only extends as far as the Gemini platform. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms outside of Gemini, Gemini can't provide complete gains, losses, and income tax information.

How Does Cryptocurrency Tax Software Help?

By integrating with all of your cryptocurrency platforms and consolidating your crypto data, CoinLedger’s cryptocurrency tax software and crypto portfolio tracker are able to track your profits, losses, income, and generate accurate tax reports in a matter of minutes.

You can test out the software and generate a preview of your gains and losses completely for free by creating an account.

Learn more about how CoinLedger works here.

Whether you file by hand or use crypto tax software, doing your Gemini taxes comes down to four steps:

Gather your full Gemini transaction history: every buy, sell, trade, deposit, and withdrawal.
Sort your transfers. Moving crypto between your own wallets is not taxable, but crypto that comes in as income (like staking or referral rewards) is.
Calculate your capital gain or loss on each disposal, plus the value of any crypto income at the time you received it.
Report it on the right forms. In the US, capital gains go on Form 8949 and Schedule D, and crypto income goes on Schedule 1. These forms get included with your full tax return. Other countries have their own equivalents.

For a detailed explainer on reporting crypto from any exchange, see our guide on how to report your cryptocurrency on your taxes.

That is the whole process, and for most people the hard part is steps 1 and 2. If you have ever moved crypto between Gemini and another wallet or exchange, Gemini can only see part of your history, so the totals it shows you can be incomplete.

That is where crypto tax software comes in. CoinLedger connects Gemini to every other wallet and exchange you have used, reconstructs your full history, and generates your tax forms automatically. More than 700,000 investors use it to file in minutes. Get started with a free account today, or keep reading to do it yourself.

Do you have to pay taxes on Gemini?

Yes. In the US and most other countries, your Gemini activity is subject to two kinds of tax:

Capital gains tax. When you dispose of cryptocurrency (selling it, trading one coin for another, or spending it), you recognize a capital gain or loss based on how the price changed since you received it.
Income tax. When you earn cryptocurrency (through staking, referrals, or similar rewards), you recognize ordinary income equal to its fair market value at the time you received it.

For a full breakdown, read our complete guide to cryptocurrency taxes.

What tax forms does Gemini provide?

For the 2025 tax year, Gemini issues:

Form 1099-DA for crypto you sold, traded, swapped, or spent on Gemini. 2025 is the first year for this form. It reports your gross proceeds (the total you sold for), not your gain or loss, and there is no minimum dollar threshold. Cost basis reporting to the IRS begins for assets acquired on or after January 1, 2026.
Form 1099-MISC if you earned $600 or more in rewards or other income, taxed as ordinary income.

Gemini sends an identical copy of each form to the IRS. Remember that a 1099 only reflects your Gemini activity, so it is a starting point, not a complete tax report (see below).

Does Gemini report to the IRS?

Yes. Gemini reports to the IRS: when it issues you a 1099, it sends a matching copy to the IRS. The IRS has also obtained customer records from major exchanges through John Doe summonses in the past.

Remember, you owe tax on your Gemini gains and income whether or not you receive a form. A missing 1099 does not remove the obligation to report.

Why isn't my Gemini tax report accurate?

Gemini only has visibility into transactions that take place on the Gemini platform. Because investors regularly transfer crypto between wallets and exchanges, Gemini cannot see the original cost basis of coins you moved in from somewhere else, so it cannot calculate your gain or loss correctly.

Example: why transfers break your cost basis

Josh buys $2,000 of BTC on another exchange. He transfers it to a cold wallet, then later sells it for $2,500 on Gemini.

Gemini only sees the $2,500 sale, not the $2,000 Josh originally paid. Without his cost basis, Gemini cannot tell whether he had a gain or a loss.

The fix is to bring every wallet and exchange into one place so your cost basis follows your crypto across platforms. That is exactly what crypto tax software like CoinLedger does.

How to file your Gemini taxes in minutes

With CoinLedger, you can import your complete Gemini history and generate your crypto tax forms in a few minutes. There are two ways to connect: an automatic import, or a file upload.

Option 1: Automatic import (API)

In CoinLedger, go to Add Account, choose the Gemini tab, and click Sync Transactions. This sends you to Gemini's own login page.
Sign in and enter your SMS or authenticator 2FA code.
Click Allow to grant CoinLedger read-only access. CoinLedger never sees your username or password and can never trade or move your funds.
You are returned to CoinLedger and your transactions import automatically.

Option 2: File upload

In Gemini, go to Settings, then Statements and history, then the Transaction History tab.
Download your exchange transaction history for the full year (Gemini provides it as a spreadsheet file).
In CoinLedger, go to Add Account, choose the Gemini tab, and upload the file.

Full steps are in our Gemini import guide.

Once your transactions are in, CoinLedger matches your transfers, calculates your gains, losses, and income, and produces a complete tax report. You can file it yourself, hand it to your tax professional, or import it into TurboTax, TaxAct, or H&R Block.

Get started with CoinLedger today

Take the stress out of tax season. More than 700,000 investors around the world use CoinLedger to track their gains, losses, and income across all of their wallets and exchanges.