First off does anyone have this new federal law on file. I would love to read it.

I think it is a gray area to call us who buy and re sell chips/tokens as a business. The new law I guess that comes into affect this year that sales over $600 are now taxed.

Example:
Lets say I sell $20,000 in chips/tokens. payments made via paypal or venmo or through ebay. Which all these services will be reporting to the tax man your payments received. Out of that my costs are $12,000 so a profit of $8,000.

In this new law what is the percent rate 2% or 13% as an example. Lets say 13% which means I will now owe like $1,200

Something we will all need to face.

Thanks for any help on clearing this up for me,
Dennis