Advice on setting up Vanguard individual/solo 401(k) for single employee (owner) S corp/LLC?

Oscar101

Quicken 2020 Home & Business, Windows, just setting up for VG i-401(k).. Vanguard i-401(k)s can hold both Roth and traditional IRA funds. QW does not appear to explicitly know about 1-401(s)s; for the present, it's a 'traditional IRA' holding employer contribution. Employee contributions will include Roth and traditional contributions.

Any suggestions / observations for setting up this type of investment in QW?

Oscar

Jim_Harman

Does this show up on the Vanguard website as separate accounts for the traditional and Roth components, or is it one combined account? 

If one account at Vanguard, I am afraid there is no way to track the traditional and Roth portions separately. I would set it up as a 401(k), which can have employer and employee contributions.

Jim_Harman

I have a 401(k) that is a combination of traditional and Roth (not at Vanguard) and unfortunately in Quicken it is all one account so I can't see the Roth balance separately.

Before I start taking distributions I will roll it over into separate traditional and Roth IRA accounts so I have more control over the investments in each and can take distributions from just the traditional side.

Jim_Harman

Does this show up on the Vanguard website as separate accounts for the traditional and Roth components, or is it one combined account? 

If one account at Vanguard, I am afraid there is no way to track the traditional and Roth portions separately. I would set it up as a 401(k), which can have employer and employee contributions.

Oscar101

Thank you, Jim. I don't see how to add a Roth at present but presume this will be revealed in the fullness of time.

Jim_Harman

I have a 401(k) that is a combination of traditional and Roth (not at Vanguard) and unfortunately in Quicken it is all one account so I can't see the Roth balance separately.

Before I start taking distributions I will roll it over into separate traditional and Roth IRA accounts so I have more control over the investments in each and can take distributions from just the traditional side.

Oscar101

That's the information (answer) I was looking for. Thank you for setting my expectations in the right space.