Setting up 401K with Traditional and Roth IRA

Brian261

I am using QW2017 R15.13 and have a Fidelity NetBenefits account.  My money is split between 4 different sources at Fidelity (Traditional IRA, Roth IRA, Employer Matching, Profit Sharing).  

The best way I have found to track in Quicken is to set up a separate account for each Source.  Since my Fidelity account is just a single account number, there should be a better way to track in Quicken (maintaining the Sources)?

mshiggins

No. Separate accounts are needed for separate tax treatments. With the exception being employee and employer contributions to a traditional 401(k) account - those two sources go to one traditional 401(k) account in Quicken. All other accounts should be separate.

Jim_Harman

To build on what mshiggins says above, if the account in Quicken is set up as a 401(k), you can identify a Cash Source for each transaction and Quicken will track these separately. It has categories for Pre and After tax contributions and Employer match but not Roth. I think the cash sources are hard-coded in Quicken.

If you are downloading transactions, hopefully this detail will be included in the downloaded data. It seems to work for T Rowe Price.

You can see what information has been downloaded by going to Tools/Online center then picking your financial institution and account and looking at the Balances and Holdings tabs.

I don't think there is a good way of printing this information however.

If you are not downloading transactions, it would be very tedious to enter all this data for every Buy and Reinvest. Even with downloading, it would probably be easier to go to the Fidelity website to see all the details.