This was inherited them after my uncle passed away. (i have made several posts about this already)
So in order to extract from the wallet I need to sell the coins even though there is a large value on it? I cant just withdrawn it into a bank account? Seems very unusual and rather complicated.
K
I can't tell you about the legalities and taxes, but in order to sell the bitcoin and convert it to cash, you must use an exchange as stated above. I'd suggest going with Coinbase.
If you're holding a large though, I would be ready to provide the necessary documents (source of funds, etc.) to both the exchange and maybe the bank as well.