Gemini Taxes: How to File Your Crypto Tax Report
Gemini does not withhold taxes or file reports on your behalf. Every trade, Earn reward and disposal is your responsibility. CoinTracking imports your full Gemini history, calculates gains and losses, and generates a tax report ready for your country.
- Every crypto trade on Gemini is a taxable disposal in most EU countries. Capital gains tax applies when you sell, swap or spend crypto.
- Gemini Earn rewards and staking payouts are taxable as income in most EU jurisdictions, at the point you receive them, not when you sell.
- Transfers between your own wallets are not taxable events. Buying crypto with fiat is not a taxable event.
- The Gemini API has limitations for Earn Transfer and Earn Redemption transactions. Import these transaction types via CSV export from Gemini for a complete history. Under DAC8, EU exchanges are required to report user data to tax authorities from 2026.
Gemini and Your Tax Obligations
Gemini is a regulated US-based crypto exchange operating in the EU and the United States, offering spot trading, Earn products and staking. Known for its compliance focus and institutional-grade security, it is a popular platform for investors who prioritise regulatory clarity.
Gemini does not withhold taxes or file reports on your behalf. You are responsible for tracking every transaction, calculating gains and losses, and declaring them to your national tax authority.
CoinTracking supports the full Gemini import in two ways:
- Gemini (spot, Earn, staking): connect automatically via API Key and Secret with Auditor (Read-only) permissions, or upload a CSV export — recommended for Earn Transfer and Earn Redemption transactions
Crypto Tax Basics: What EU Investors Need to Know
Tax rules for crypto vary across EU member states. These three principles apply broadly, but always verify the specifics with your local tax authority or a qualified advisor.
Trading crypto is a taxable disposal
In most EU countries, every sale, swap or spending of crypto is a taxable event. Capital gains tax applies to the difference between what you paid (cost basis) and what you received. Transfers between your own wallets do not trigger tax.
Earn rewards and staking income are taxable
When you receive Gemini Earn rewards or staking payouts, that income is typically taxable at the point of receipt, based on the market value at that time. The later sale of those tokens is treated as a separate capital gain.
Records are your responsibility
EU crypto exchanges are required under DAC8 to report transaction data to national tax authorities from 2026. In the US, Gemini already reports to the IRS. Accurate records remain your responsibility. CoinTracking maintains a complete, dated audit trail of every Gemini transaction — including Earn payouts and staking rewards.
Gemini Taxes by Country
Crypto tax rules differ by market. Below are the key rates, deadlines and filing forms for the countries where CoinTracking users trade most actively on Gemini.
Germany
- Disposal tax: Personal income tax rate (up to 45%); gains are tax-free if held longer than 1 year (Haltefrist)
- Annual exemption: Gains up to €600/year are tax-free
- Earn income: Taxed as other income (Sonstige Einkünfte)
- Cost basis: FIFO
- Authority: Finanzamt
- Forms: Anlage SO, Anlage KAP
United Kingdom
- Capital Gains Tax: 18% (basic rate) or 24% (higher rate) from October 2024
- Annual exempt amount: £3,000 (2024/25 onward)
- Earn income: Income Tax at marginal rate
- Cost basis: Section 104 pool (HMRC rules)
- Authority: HMRC
- Forms: Self Assessment SA100, SA108
Spain
- Savings income (IRPF): 19% up to €6,000; 21% up to €50,000; 23% up to €200,000; 27% up to €300,000; 28% above
- Foreign crypto disclosure: Modelo 721 required if portfolio exceeds €50,000 abroad
- Earn income: Taxed as savings income (rendimientos del capital)
- Authority: Agencia Tributaria (AEAT)
- Forms: Modelo 100 (IRPF), Modelo 721
Poland
- Flat rate: 19% on all crypto gains (no holding period exemption)
- Loss carryforward: Up to 5 years
- Earn income: Taxed as capital income at 19%
- Cost basis: FIFO
- Authority: Urząd Skarbowy
- Form: PIT-38
Italy
- Flat rate: 26% on gains exceeding €2,000/year (from 2023)
- Foreign holdings disclosure: Quadro RW required if portfolio exceeds €15,000
- Earn income: Taxed as capital income at 26%
- Authority: Agenzia delle Entrate
- Forms: Quadro RT (gains), Quadro RW (foreign holdings)
Portugal
- Disposal tax: 28% on gains from crypto held less than 1 year (from 2023)
- Long-term holding: Tax-free on disposal if held 1 year or longer
- Earn income: Taxed at 35% flat rate or progressive income tax rates
- Authority: Autoridade Tributária (AT)
- Forms: Modelo 3, Anexo G or Anexo J
United States
- Short-term gains (held under 1 year): Ordinary income tax (10-37%)
- Long-term gains (held 1 year or longer): 0%, 15%, or 20% depending on income
- Earn rewards: Taxable as ordinary income when received
- Cost basis: FIFO (default); specific identification permitted
- Authority: IRS
- Forms: Form 8949, Schedule D
France
- Flat 30% tax (PFU): Gains from crypto disposals are subject to the prelevement forfaitaire unique (PFU) — 12.8% income tax + 17.2% social charges.
- No exemption for holding period: Unlike Germany, there is no tax-free threshold after 1 year.
- Earn income: Taxed as BNC (non-commercial income) if received regularly; otherwise as capital gains.
- Authority: Direction generale des Finances publiques (DGFiP). Declare via Formulaire 2086.
Austria
- 27.5% capital gains tax: Since March 2022, crypto is taxed like shares — a flat 27.5% KeSt (Kapitalertragsteuer) applies to gains.
- Old coins grandfathered: Crypto acquired before 28 February 2021 is tax-free on disposal.
- Earn and lending: Treated as capital income, also taxed at 27.5%.
- Authority: Finanzamt Austria. Report via Einkommensteuererklarung (E1 / E1kv).
Tax rules change frequently. This overview is for general information only and does not constitute tax advice. Consult a qualified advisor for your specific situation.
Are Gemini Transactions Taxable?
In most EU countries, crypto is treated as an asset: disposing of it can trigger capital gains tax, and earning it can count as income. Use this as a starting reference. The exact rules vary by country.
Taxable Events
- Selling crypto for fiat (EUR, GBP, USD, etc.)
- Swapping crypto for crypto
- Gemini Earn rewards and staking payouts
- Airdrops received in exchange for an action
- Using crypto to pay for goods or services
Not Taxable
- Buying and holding crypto
- Transferring crypto between your own wallets
- Depositing fiat to Gemini
- Receiving crypto as a personal gift
Tax treatment varies by country. CoinTracking applies the rules for your selected jurisdiction automatically.
How to Calculate Your Gemini Taxes
Gemini users typically combine spot trades with Earn rewards and staking payouts — each of which has different tax treatment depending on your country. Spot disposals generate capital gains or losses; Earn and staking income is taxed at receipt.
The core calculation is: take what you received (proceeds), subtract what you paid (cost basis, calculated with FIFO), and the result is your taxable gain or loss. For Earn and staking income, the taxable amount is the market value at the time of receipt.
CoinTracking automates this across your full Gemini history and produces a report your accountant or local tax authority will accept.
How to Import Gemini into CoinTracking
Three steps to connect your Gemini account and sync all transactions automatically.
- 1
Log into CoinTracking and open Imports
After logging in, click the Import icon in the left navigation. This is where you connect all your exchanges, wallets and blockchains.
- 2
Search for Gemini
Type Gemini in the search field and select it from the results.
- 3
Create a Gemini API key and connect
Go to https://exchange.gemini.com/settings/api in Gemini. If you have a scope selection, choose Primary. Click Create API Key, set API Key Settings to Auditor (Read-only), and under Trusted IPs add 54.75.92.101. Save your key, then paste your API Key and Secret into CoinTracking and click Connect and Import. Import typically completes in 1-2 minutes. For Earn Transfer and Earn Redemption transactions, use the Upload file option with a CSV export from Gemini.
"CoinTracking can handle just about any complex transaction type — staking, DeFi, CEX trades — everything is tracked and calculated automatically."
How to Create Your Gemini
Tax Report with CoinTracking
Three steps from a fresh account to a tax report your accountant will accept.
Connect Gemini via API or CSV
Log into CoinTracking, go to Imports and search for Gemini. Create an Auditor (Read-only) API key in Gemini with Trusted IP 54.75.92.101 and paste it into CoinTracking — import completes in as little as 1-2 minutes. For Earn Transfer and Earn Redemption history, upload a CSV export from Gemini.
Review your transactions
Open Reports and Validate Transactions. CoinTracking flags missing cost basis entries, duplicate imports and price gaps so your final report is accurate.
Generate and export your tax report
Select your country and tax year. CoinTracking generates a report formatted for your jurisdiction: PDF or Excel, ready to file or hand to your accountant.
In most EU countries, yes. Every crypto sale, swap or disposal on Gemini is a taxable event. Capital gains tax applies on the difference between your cost basis and proceeds. Tax-free thresholds and rates vary by country.
From 2026, EU crypto exchanges are required under DAC8 to report user transaction data to national tax authorities. In the US, Gemini already reports to the IRS and issues 1099 forms for eligible users. Your trading history is increasingly visible to tax authorities.
In most EU jurisdictions, Gemini Earn rewards and staking payouts are taxable as income when you receive them, based on the market value at that point. The later sale of those rewards triggers a separate capital gain or loss. For US users, the IRS treats staking and Earn rewards as ordinary income.
Log into CoinTracking, go to Imports and search for Gemini. Click Connect automatically. In Gemini, go to https://exchange.gemini.com/settings/api, choose the Primary scope, and click Create API Key. Set API Key Settings to Auditor (Read-only) and add 54.75.92.101 as a Trusted IP. Paste your API Key and Secret into CoinTracking and click Connect and Import. Note: for Earn Transfer and Earn Redemption history, use a CSV export from Gemini.
The Gemini API has limitations for Earn Transfer and Earn Redemption transaction types. CoinTracking recommends importing these transaction types via CSV export from Gemini. All other transaction types — including spot trades and staking rewards — are covered by the API import.
Yes. In most EU countries and in the US, realised losses from crypto can be offset against gains in the same tax year. Rules on carrying losses forward vary by country. CoinTracking calculates and reports both gains and losses automatically.
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