Gemini Earn balances

Any thoughts on supporting Gemini earn? Accointing doesn’t seem to support it so far. At least not for me

Thanks!!

I would like this too. So far I’ve had to manually create a “Gemini Earn” wallet and add transactions for each of my transfers in and out of earn. It works but would like it to be automated.

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Yeah, this is very important for me too. Everything I have on Gemini is in Gemini Earn, so Accointing mistakenly thinks that I don’t have anything there. Hopefully this will be added/fixed very soon!

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I too am having trouble adding Gemini balances and earn. Can you please assist? Thank you

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Same here! I’m glad it at least flags that it transferred “out” of my general Gemini wallet, but would still like to have that information available, especially tracking of the interest when it happens for more granular record keeping.

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Agreed on this one. I’m new to this platform but I’m pretty sure others have the same issue with Gemini Earn as well. Would be great to see this resolved.

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Yes please, really would like to see Gemini Earn balances imported, as that just seems to disappear otherwise.

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This really needs to be done

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All lending is treated this way, even outside of Gemini. When you enter your funds into Lending, such as Earn, you technically do not hold the funds at that time. When the funds are returned with interest or payments of interest are made to your account or wallet you mark the return and payment(s) as Lending Income. This is the proper way to handle the transaction for taxes.

Hey guys! I understand your frustration with the staked and staking classifications so just to clear this out from our standpoint:

all tokens that were staked=do not classify
all tokens that came as a reward for staked tokens=staking

The reason why we don’t have more strict guidelines is because there aren’t any and they are subject to the interpretation of the different jurisdictions. That bein said, here is an article from Bloomberg providing further context on the matter:

Now, the lender could be considered to have converted their crypto for another crypto when they “stake” their money into the liquidity pool and received another token they can sell elsewhere. That is a taxable event, so in this example, just as dividends are taxable, so are tokens generated from staking activities.

However, it’s not as straight-forward as that because this transaction can also be viewed in another way; in that what the lender deposited in the liquidity pool is still their money and the tokens they receive in exchange is nothing more than a receipt. That means it is not a taxable event.

Meanwhile, on the borrower’s side, it can be argued that depositing collateral and receiving a loan in a different token form is akin to an exchange transaction, so a taxable event. Of course, usually taking a loan is not a taxable event. However, the transaction on a DeFi is unique. Unlike conventional loans, it includes depositing one currency as collateral to receive a loan in another.

If you need any tax assistance with your crypto taxes, make sure you visit ACTAN in the Hub where any of our crypto tax professionals can help you out.

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I think this is a great feature request. I voted for it. You vote too please.
Thanks.