A 30-year-old opens their first Roth IRA and contributes the maximum amount possible in a year. That person also opens their first traditional IRA and, to that account, rolls over funds from a previous 401K. If those funds are invested in CDs that will mature in the following tax year, how will these events affect their taxes in:
- the tax year in which they open the account?
- the tax year in which the CDs mature?
