Feature Request: 529 Lifetime Planner

wykzimme
wykzimme Member
It would be nice on the Planner if you could associate a 529 account with a College Expense.

At the moment it shows all my acts. but not the 529 act. when I try to associate a Specific act.

Comments

  • Scooterlam
    Scooterlam SuperUser, Windows Beta Beta
    edited October 2022
    @wykzlmme It is possible to associate your 529 account to college expenses....However... LTP seems to be broken when associating tax-advantaged accounts (IRA, 401k, 529...) to a specific college expense or special expense.

    I looked into this awhile ago and confirmed it.   Have a look at my idea post in this link, for additional detail.  And, please vote.    https://community.quicken.com/discussion/7900745/lifetime-planner-idea-fix-account-assignment-for-special-college-expenses-future-homes

    Today, if you choose a tax advantaged account to cover a specific expense, LTP incorrectly funds that expense through a taxable account.... You'll be able to see that if you inspect the plan summary tables.

    Despite it being broken at the moment...You should be able to see and select your 529 account in the college expenses assumption dialog, where it asks you "how will you fund this expense".

    A few steps to take, in case the development folks fix this issue in the future (don't hold your breath).

    1.   Confirm that your 529 account is "included" in your Investment assumptions.   In Investments>Edit, there is a check box to "Exclude from plan". Highlight your 529 and make sure this is unchecked.   Also, ensure that "Show excluded accounts" is checked.  Image.



    2.  In the College expenses>Edit,  ensure you select "Specific accounts".   Doing so, opens a window to allow you to select the 529 account et al..   Is this where you cannot see your 529 account?



    So, yeah....like I said earlier, you can select the tax advantaged account but LTP doesn't actually fund the expense via the account you selected.   Sigh.
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