how to record employee match for 2 accounts

Unknown
Unknown Member
edited October 2018 in Investing (Windows)
I have both a normal 401 and ROTH 401.  My employer matches to both, but Quicken 2017 only seems to allow for a single match.  How to I make this all work?

Comments

  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    edited July 2018
    Hello jbritter2, appreciate your question.

    We need some information in order to assist you: https://getsatisfaction.com/quickencommunity/topics/add-your-quicken-information-to-your-posts-plus-...

    We need to know if you are using Quicken 2017 on a Mac or PC..

    Thank you in advance for any information that you can provide.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited July 2018
    When employers match both Roth and Regular 401(k) they likely show only 1 match amount based on your individual contribution but the Roth and Regular accounts are separate.  What is actually happening is your employer is matching/contributing to 2 separate amounts (Roth and Regular).  You need to separate both your contribution to 401(k) and the employer match into Regular and Roth amounts/accounts.

    There is nothing Quicken can do to determine what the split is and how much goes to each account.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited October 2018
    A regular 401(k) is pre-tax and Quicken supports the pre-tax employer match.  

    The Roth 401(k) is after-tax.  Any employer match of a Roth 401(k) contribution should be entered as Earnings and included in the transfer to the Roth 401(k) account as an after-tax deduction.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited July 2018
    Sherlock said:

    A regular 401(k) is pre-tax and Quicken supports the pre-tax employer match.  

    The Roth 401(k) is after-tax.  Any employer match of a Roth 401(k) contribution should be entered as Earnings and included in the transfer to the Roth 401(k) account as an after-tax deduction.

    Good Catch.  I missed that when I previously read this thread.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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