I just want to make sure I'm understanding this right. Since he is seeking a profit from the sale of coins I would just report on Sch C as I would a normal business with his expenses being the price of the coin purchased? If he buys 4k worth of coins on ebay and resales them for 6k. I'm just doing the usual 6k income minus 4k expenses? I apologize, it just seems it shouldn't be done this way. I think because of it being money. So I wouldn't need to do anything with capital gains since it's a business and does he need to report sales on a 1099-B? I'm hoping you can help straighten me out.