Hey all, I know absolutely nothing about bitcoin but I'm trying to help out a family member who I think is in over their heads.
At some point, my mother-in-law decided she wanted to invest some money and somehow had heard about bitcoin. For whatever reason, instead of reaching out to anyone in her immediate family, she heard through a family Whatsapp group that a relative owned some bitcoin and asked this relative to buy her $5k worth.
Now she's decided she wants to have hold the bitcoin herself so she's asked us to help her create a wallet and transfer the bitcoin she bought from her relative's Coinbase account.
Because I'm the "computer" guy in the family, I've been asked to assist with this but again, I have no idea how any of this works. I reached out to the relative and they're telling me they would need to pay 30% tax on the transfer which doesn't make sense to me since I don't think this is a taxable event. My mother-in-law isn't asking to cash out, she just wants the bitcoin in her wallet rather than her relatives'.
Does anyone have rough suggestions on how to do this and if there are fees associated with this? I'm fine with looking into the details but don't really know where to begin.
Thanks in advance!
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