A customer asks about the difference between a BMO Traditional IRA and a BMO Roth IRA. What is the core distinction?
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A
Traditional IRA contributions are post-tax; Roth IRA contributions are pre-tax
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B
Traditional IRA contributions may be pre-tax with taxable withdrawals; Roth IRA contributions are post-tax with tax-free qualified withdrawals
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C
There is no difference; they are identical products
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D
Roth IRAs have higher annual contribution limits than Traditional IRAs