Recent spectropolarimetric observations suggest that young low-mass stars such as classical T Tauri stars (CTTSs) possess relatively strong (~kG) magnetic field. This supports a scenario in which the final accretion onto the stellar surface proceeds through a magnetosphere, and the winds are formed in magnetohydrodynamics (MHD) processes. We examine recent numerical simulations of magnetospheric accretions via an inclined dipole and a complex magnetic fields. The difference between a stable accretion regime, in which accretion occurs in ordered funnel streams, and an unstable regime, in which gas penetrates through the magnetosphere in several unstable streams due to the magnetic Rayleigh-Taylor instability, will be discussed. We describe how MHD simulation results can be used in separate radiative transfer (RT) models to predict observable quantiles such as line profiles and light curves. The plausibility of the accretion flows and outflows predicted by MHD simulations (via RT models) can be tested against observations. We also address the issue of outflows/winds that arise from the innermost part of CTTSs. First, we discuss the line formations in a simple disk wind and a stellar wind models. We then discuss the formation of the conically shaped magnetically driven outflow that arises from the disk-magnetosphere boundary when the magnetosphere is compressed into an X-type configuration.