401(k) fees

Unknown

I use the 401(k) wizard to update holdings.  There is no place to enter fees, but the verbage is the wizard accounts for them. 

"If you use the 401(k) Update wizard, maintenance fees are accounted for during the update process. Otherwise, tracking 401(k) maintenance fees is a simple matter of entering these transactions in your 401(k) account transaction list."

So when I run the wizard, enter employer/employee contributions, update the security holding shares/current value etc, the market value is updated and accurate but nowhere to enter/show fees. 

Not being an avid investor, I'm understanding the process is contributions minus the amount for the fees are taken to purchase more shares in the securities and so the fees end up coming off of the shares to arrive at the current statement ending value of shares/market value.

That's fine I guess, but it would be nice to see how much of my money is going to maintenance fees.

Quicken Harold

Hello Brian. Appreciate your question.

Which version of Quicken are you using? Is it for PC or Mac: https://getsatisfaction.com/quickencommunity/topics/add-your-quicken-information-to-your-posts-plus-...

Thank you in advance.

Respectfully,
~ Quicken Harold.

Unknown

2019 R14.27 for PC

Jim_Harman

In my 401k, the fees are paid by selling a small amount of each security. This produces just enough cash in the account to cover the fee. I then enter a MiscExp transaction to remove the cash.



I have not used the Wizard in a long time but IIRC it uses Add and Remove transactions to adjust the share and cash balances to match your statement. This would have pretty much the same effect as entering all the actual Buys and Sells.