How are Gemini transactions taxed?
Most Gemini transactions are taxable under U.S. and global tax regulations.
Capital gains tax: Applies when you sell, trade, or spend crypto. Gains are calculated as the difference between your sale price and your purchase price (cost basis).
Income tax: Applies to staking rewards, interest earned from Gemini Earn (where applicable), or referral bonuses. The fair market value at the time of receipt counts as income.
CoinTracker automates these calculations to ensure accurate reporting for every Gemini transaction.
Do I have to pay taxes on Gemini?
Yes. If you've sold crypto, exchanged one coin for another, or earned staking or rewards income on Gemini, those are taxable events.
Simply holding crypto on Gemini is not taxable, but disposing of it or earning new coins is.
By connecting Gemini to CoinTracker, you can automatically track these events and calculate your exact tax liability.
Does Gemini provide tax documents?
Yes. Gemini provides official IRS tax forms and account statements to eligible users. Depending on your activity, you may receive:
Form 1099-MISC for income-type rewards (e.g., staking)
Form 1099-B for sales and trades
Starting in 2025, Gemini will also issue Form 1099-DA for digital asset transactions.
You can also export your full transaction history (CSV) to integrate with CoinTracker for complete tax coverage.
How to get your Gemini tax documents
Log in to your Gemini account.
Navigate to Profile → Tax Center.
Select the tax year you want.
Download your available tax forms (1099s) or transaction CSV.
Upload your data or connect your Gemini account to CoinTracker to calculate and file your taxes automatically.
When does Gemini issue Form 1099-MISC?
Gemini issues Form 1099-MISC to eligible U.S. users who earn $600 or more from staking rewards, referral bonuses, or other income programs.
Forms are typically issued by January 31 of the following tax year.
When does Gemini issue Form 1099-B?
Gemini issues Form 1099-B to users with reportable crypto disposals such as sales or trades.
This form lists proceeds, cost basis, and gains/losses for your transactions and is distributed by January 31 each year.
CoinTracker can automatically reconcile and format your 1099-B data for IRS filing.
When does Gemini issue Form 1099-DA?
Beginning with the 2025 tax year, Gemini and other U.S. brokers will issue Form 1099-DA to report all digital asset transactions to the IRS.
This new form standardizes crypto reporting and will be available by January 31 annually.
When does Gemini issue Form 1099-K?
Gemini no longer issues Form 1099-K for crypto transactions.
This form has been replaced by 1099-DA and 1099-B under updated IRS broker reporting requirements beginning in 2025.
Why aren't my Gemini documents accurate?
Gemini forms and reports only include on-platform activity.
If you've moved crypto to DeFi, hardware wallets, or other exchanges, those transactions won't appear in Gemini's records.
CoinTracker consolidates all your transactions across exchanges and wallets for a full, compliant tax report.
Does Gemini automatically deduct taxes?
No. Gemini does not withhold or automatically deduct taxes.
You're responsible for filing and paying your taxes based on your realized gains and income.
CoinTracker automates the process by tracking cost basis and creating all the necessary IRS forms, including Form 8949 and Schedule D.
Does Gemini report to the IRS?
Yes. As a U.S.-regulated exchange, Gemini reports certain user activity directly to the IRS, including through Form 1099-MISC, 1099-B, and starting in 2025, 1099-DA.
Even so, only on-platform activity is reported. CoinTracker ensures your complete tax report includes off-platform wallets and exchanges as well.
Does Gemini provide financial or end-of-year statements?
Yes. You can download end-of-year statements, account summaries, and CSV exports from Gemini's Tax Center.
Import them into CoinTracker to generate comprehensive capital gains, income, and portfolio summaries for tax filing.