FixMyCryptoTax 1099-DA reconciler

Exchange guide · Gemini

Gemini 1099-DA (2026): What It Reports, Why Gains Can Be Missing, How to Add Cost Basis

What Gemini's Form 1099-DA reports for 2025 and 2026, why sales of transferred-in crypto show no gain or loss, how to add cost basis in Gemini's Tax Center, and how to map each sale to Form 8949.

By John Calloway Updated Sources checked Not tax advice

Your Gemini 1099-DA in 5 steps

  1. 01

    Open the Tax Center (Account > Settings > Statements and Taxes > Taxes) and check the cost basis method. FIFO is the default; a change applies only to sales after you make it.

  2. 02

    For every coin you transferred in, add the acquisition cost and date in the Tax Center. Without them Gemini cannot show a gain or loss for those sales.

  3. 03

    Download your Exchange Transaction History (and Staking Transaction History) for every year you used Gemini.

  4. 04

    Export the full history from the exchanges and wallets your transferred coins came from. That is where their basis lives.

  5. 05

    When the 1099-DA arrives, sort each sale into Form 8949 box G, H, J or K and enter your own basis wherever the form shows none.

The form, box by box

What each box on Form 1099-DA means in plain English. The highlighted boxes are the ones that decide how you fill in Form 8949.

Filer's name, address, TIN Recipient's name, address, TIN Account number
Form 1099-DA Digital Asset Proceeds From Broker Transactions Applicable checkbox on Form 8949G · H · J · K · Y
1a Code for digital asset
1b Name of digital asset
1c Number of units
1d Date acquired
1e Date sold or disposed
1f Proceeds
1g Cost or other basis blank?
1h Accrued market discount
1i Wash sale loss disallowed
2 Check if basis reported to IRS
3a Gross or net proceeds reported
3b Check if proceeds from a QOF
4 Federal income tax withheld
5 Check if loss is not allowed
6 Gain or loss: short-term, long-term, ordinary
7 Check if only cash proceeds
8 Check if broker relied on customer-provided acquisition info
9 Check if noncovered security
10 Reserved
11a-c Optional reporting method (stablecoins, NFTs)
12a Number of units transferred in
12b Transfer-in date
13 Reserved
14-16 State information
Schematic, not the official form: box titles from the IRS Instructions for Form 1099-DA (rev. Apr 30, 2026), checked Oct 1, 2026. The real form is laid out differently and has copies for the IRS, you and the broker.

  1. Box 1b, 1c What was sold

    The coin and the number of units, to 18 decimal places. One row per sale (or per aggregated group under the optional methods).

  2. Box 1d, 1e When you bought and sold

    Box 1d can be blank: the broker leaves it empty when the units were bought on several dates, or for a noncovered sale where it doesn't know the date. Your holding period comes from your own records then.

  3. Box 1f Proceeds

    Gross proceeds, already reduced by the transaction costs of the sale. This is what goes in Form 8949 column (d).

  4. Box 1g Cost basis: the box that is often blank

    The broker may leave it blank when box 9 is checked. Blank means not reported, not $0. You enter your correct basis in Form 8949 column (e).

  5. Box 2 Basis reported to the IRS?

    Checked: the IRS has the broker's basis, so the row goes in Form 8949 box G or J. Unchecked: box H or K.

  6. Box 6 Short-term or long-term

    One year or less is short-term. If the broker can't tell, the "Applicable checkbox on Form 8949" field shows code Y and you decide from your purchase date.

  7. Box 8 Your own numbers

    Checked when the broker used acquisition details you gave it, such as basis you added for coins you transferred in.

  8. Box 9 Noncovered

    Coins bought before 2026, or bought elsewhere and transferred in. For these the broker doesn't have to report basis.

  9. Box 11a-c Aggregated rows

    Qualifying stablecoins and specified NFTs can be reported as yearly totals. If your total is $10,000 or less (stablecoins) or $600 or less (NFTs), the broker doesn't have to report them at all.

  10. Box 12a, 12b Transferred in

    How many of the units sold had been transferred into the account, and when. A filled 12b is a strong hint that the basis lives in another exchange's export.

On Gemini's form, the rows to check first are the ones with box 9 checked and box 1g empty.

Covered vs noncovered on Gemini

Covered basis reported

  • From 2026: assets "purchased on the exchange on or after 1/1/2026 and held on the exchange until sale."

Noncovered basis may be blank

  • Crypto transferred in: its basis "will not be reported to the IRS by Gemini until some later date."
  • Staking rewards and credit card rewards: Gemini says neither is a covered asset.
  • Everything sold in 2025: "2025 Form 1099-DA will only report proceeds of sales to the IRS."

Sources: Gemini Support, What is a form 1099-DA and a tax Gain/Loss Statement?; Gemini Support, What is a Form 1099-MISC?.

Get your Gemini files

  1. Account
  2. Settings
  3. Statements and taxes
  4. Transaction history
  5. Download Exchange Transaction History
  6. Set the date range

Staking and Earn income is a separate download: Staking Transaction History, from the same Transaction history page.

Source: Gemini Support, Where do I find my tax information?.

Add missing basis in Gemini

  1. Account
  2. Settings
  3. Statements and Taxes
  4. Taxes
  5. Add acquisition cost and date for each transfer in

Source: Gemini Support, What Gemini provides for U.S. crypto tax reporting.

Reconciler · Kraken + Coinbase

Coins came to Gemini from Kraken or Coinbase?

The reconciler doesn't read Gemini files yet. If your coins started on Kraken or Coinbase, their exports hold the purchase records: the reconciler finds the original cost for each lot so you can add it in Gemini or enter it on Form 8949.

Open the reconciler Try the sample first

The full guide

Not tax advice. This page summarizes IRS instructions and Gemini’s own support pages as of October 1, 2026. Gemini may change its process before forms go out. Check with a tax professional for your situation.

Short version: Gemini files Form 1099-DA with the IRS for crypto you sold. For 2025 the IRS copy shows proceeds only. From 2026 it also shows cost basis, but only for crypto bought on Gemini on or after January 1, 2026 and kept there until the sale. For coins you transferred in, Gemini needs you to enter the purchase cost and date in its Tax Center; until you do, it can’t show a gain or loss for those sales, and the right basis still goes on your Form 8949.

What Gemini sends you

FormWhat it coversSource
1099-DASales and other disposals of digital assets on the exchange, for U.S. non-exempt account holdersGemini: What is a form 1099-DA?
1099-MISCStaking, refer-a-friend awards, bonuses and rewards on stablecoins, once income passes the thresholdGemini: What is a Form 1099-MISC?
Gain/loss statementMainly for C corporations, which don’t get a 1099-DA; not sent to the IRSGemini: What Gemini provides

Gemini says the 1099-DA is available on February 15 each year in the Tax Center (Account > Statements and Taxes > Taxes). On the 1099-MISC page it adds that the $600 threshold “will increase to $2,000 for 2026 transactions and forward.”

2025 vs 2026 on Gemini

Tax yearReported to the IRSOn your copy
2025Proceeds only: “The report issued to the IRS will show no gain or loss for those sales.”Gain/loss that is not reported to the IRS, clearly marked
2026Proceeds, plus basis “for assets purchased on the exchange on or after 1/1/2026 and held on the exchange until sale”Same, plus your entered basis for transfers

Sources: Gemini: What is a form 1099-DA? and Gemini: Tax reporting update for 2025. For 2025, Gemini says gain/loss marked as not provided to the IRS “is not required to be used for your U.S. tax filings” and customers “can rely on their own calculations.”

Why gains can be missing for transferred coins

Gemini only knows what you paid for coins you bought on Gemini. For anything you moved in from another exchange or wallet:

  1. You have to supply the basis. “If there are transferred assets in the account that the customer has not provided basis information (acquisition cost and date) for, Gemini will not be able to provide gain/loss information for the sale of those assets” (Gemini).
  2. That basis still isn’t sent to the IRS. “The cost basis of assets not purchased on the Gemini exchange will not be reported to the IRS by Gemini until some later date” (Gemini). That matches the IRS rule: a covered security must be acquired in the broker’s account and held there until the sale (IRS, Instructions for Form 1099-DA).
  3. Rewards are noncovered too. Gemini says staking rewards and credit card rewards are not covered assets, so their basis isn’t reported to the IRS when you sell them. Your copy shows a basis equal to their value when they became available (Gemini: Form 1099-MISC).

Watch the “default assumptions”

If you generate a gain/loss statement without entering basis for transfers, Gemini can fill in defaults: “Gemini will use the price of the asset on the transfer date as the cost basis of the asset and the date of transfer as the acquisition date.” Gemini adds that this “should not be relied upon for purposes of determining an actual tax gain or loss” (Gemini). If you bought those coins long before the transfer, the default basis and holding period can both be wrong. A ”*” next to a cost basis on the statement marks missing transfer information.

How to add cost basis in Gemini

Go to Account > Settings > Statements and Taxes > Taxes and enter the acquisition cost (basis) and acquisition date for each transfer in (Gemini: What Gemini provides). Gemini’s guidance on what to enter:

  • Your own coins moved from another platform or wallet: “the purchase price of that asset,” plus the date you acquired it, so short- vs long-term comes out right.
  • A gift: “The cost basis of a gift may be zero,” and Gemini says to check with a tax advisor.
  • A payment you received in crypto: its cash value when received.

Source: Gemini: What is a form 1099-DA?. After you enter several lots, Gemini shows a weighted “Avg cost,” but says that average is informational and sales still follow your chosen method.

Cost basis method on Gemini

The Tax Center offers FIFO, HIFO and LIFO. FIFO applies if you never choose. A change “will be applied to all sales after the selection is made,” and you can change it as often as you like (Settings > Statement and taxes > Taxes > Cost basis method) (Gemini). Gemini applies the method only within your Gemini account, not across your other exchanges and wallets. Under the IRS rules, basis is tracked account by account anyway (IRS, final broker regulations).

Getting your Gemini history

From Gemini: Where do I find my tax information?:

  • Trades (web): Account > Settings > Statements and taxes > Transaction history > download Exchange Transaction History > set the date range.
  • Trades (mobile): Account > Transaction history > select a year > download Exchange Transaction History.
  • Staking and Earn income: download Staking Transaction History from the same place.

Gemini is clear that it “does not prepare or issue Form 8949 for customers” and doesn’t calculate your tax across other exchanges, DeFi or self-hosted wallets (Gemini).

Reconciling Gemini’s 1099-DA to Form 8949

Form 8949 has digital-asset boxes (IRS, Instructions for Form 8949):

Your 1099-DA rowHeld 1 year or lessHeld more than 1 yearColumn (e), basis
Basis reported to the IRSGJThe basis shown. Corrections go in (g) with code B
Basis not reported (2025 sales, transfers in, rewards)HKYour correct basis
No 1099-DA for the saleILYour correct basis

Column (d) is the proceeds on the form, already net of transaction costs (IRS i1099da, box 1f). For a sale reported without basis, enter “the correct basis of the property in column (e)” (IRS i8949).

If your coins came to Gemini from Kraken or Coinbase, their exports hold the original purchase. The free 1099-DA checker reads both and traces each lot back to its first buy; the cost basis calculator takes buys and sells by hand.

Sources (checked 2026-10-01)

Common mistakes

  1. Trusting the default "transfer date" basis

    If you generate a statement without entering basis for transferred assets, Gemini uses the price on the transfer date as the basis and the transfer date as the acquisition date. Gemini says this "should not be relied upon for purposes of determining an actual tax gain or loss." (Gemini Support, 1099-DA and Gain/Loss Statement)

  2. Expecting a method change to fix past sales

    Gemini applies a new cost basis method "to all sales after the selection is made." Earlier sales keep the method in force when they happened. (Gemini Support, Tax reporting update for 2025)

  3. Reading the gain/loss on your copy as IRS data

    Your copy of the 1099-DA includes gain/loss that is not sent to the IRS, and Gemini marks it as such. For 2025, Gemini says customers "can rely on their own calculations" for gain/loss on their return. (Gemini Support, Tax reporting update for 2025)

  4. Filing a blank basis as $0

    A sale reported without basis is not a sale with zero basis. Enter your correct basis in Form 8949 column (e) and keep the records that support it. (IRS, Instructions for Form 8949)

Questions people ask

Does Gemini report to the IRS?

Yes. Gemini issues Form 1099-DA, "an information return that is issued to customers and the IRS," to U.S. non-exempt account holders who sold a digital asset during the year, and Form 1099-MISC for staking, referral and stablecoin rewards above the income threshold.

Source: Gemini Support, What is a form 1099-DA?

What does Gemini report on the 1099-DA for 2025 vs 2026?

For 2025, proceeds only: the IRS copy shows no gain or loss. From 2026, the filing also shows basis for assets purchased on Gemini on or after January 1, 2026 and held there until sale.

Source: Gemini Support, What is a form 1099-DA?

Why does my Gemini 1099-DA show no gain or loss for some sales?

Usually because the coins were transferred in and you have not entered their acquisition cost and date. Without that, Gemini "will not be able to provide gain/loss information for the sale of those assets."

Source: Gemini Support, Tax reporting update for 2025

How do I add cost basis for crypto I transferred into Gemini?

Go to Account > Settings > Statements and Taxes > Taxes and enter the acquisition cost (basis) and acquisition date for the transferred assets. For coins moved from your own account elsewhere, the basis is what you originally paid.

Source: Gemini Support, What Gemini provides for U.S. crypto tax reporting

Which cost basis method does Gemini use?

FIFO unless you choose another. The Tax Center offers FIFO, HIFO and LIFO; a change applies to sales after you make it.

Source: Gemini Support, Tax reporting update for 2025

When does Gemini send the 1099-DA?

Gemini says Form 1099-DA is available for eligible accounts on February 15 each year, in the Tax Center (Account > Statements and Taxes > Taxes).

Source: Gemini Support, What is a form 1099-DA?

Does Gemini give me a Form 8949?

No. Gemini says it "does not prepare or issue Form 8949 for customers." You fill in Form 8949 yourself or with software.

Source: Gemini Support, What Gemini provides for U.S. crypto tax reporting

Box 1g (cost basis) is blank. Do I report $0?

No. A blank box 1g means the broker did not report basis, not that your basis is zero. For a noncovered sale with no basis shown, the Form 8949 instructions say to enter the correct basis of the property in column (e). Keep the purchase records that support it.

Source: IRS, Instructions for Form 8949

Which Form 8949 box do I use?

Digital assets use boxes G to L. Basis reported to the IRS: G (held one year or less) or J (more than one year). Basis not reported: H or K. No 1099-DA at all: I or L. The 1099-DA has an "Applicable checkbox on Form 8949" field with the letter the broker expects; code Y means the broker could not tell short-term from long-term, so you decide from your own purchase date.

Source: IRS, Instructions for Form 1099-DA (2026)

Why are some stablecoin sales missing from the form?

Brokers do not have to report designated sales of qualifying stablecoins if your total gross proceeds from them are $10,000 or less for the year. The sales are still yours to report.

Source: IRS, Instructions for Form 1099-DA (2026)

Fix it before you file

  1. Free

    1099-DA reconciler

    Matches transfers between Kraken and Coinbase, shows gains by lot method and lists the sales missing basis. Runs in your browser.

    Check my 1099-DA free
  2. $19 early bird

    Form 8949 export

    $19 early bird until Jan 31, 2027, then $29 per tax year. Any number of transactions · 14-day refund. Every sale exported with its Form 8949 box, plus the audit trail and a check against your 1099-DA.

    Run it free, then export
  3. Free preview

    Koinly

    For more exchanges, wallets, DeFi or NFTs. You can import and preview gains free before paying for the report (koinly.io/pricing).

    Try Koinly free

    We earn a commission if you sign up through this link.

Not tax advice; check with a tax professional for your situation.