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How to get from Fidelity 401k to multiple accounts by the source?

hi all,

my company retirement Fidelity account has 3 sources:
1. 401k - before tax
2. 401k - after tax
3. Roth - after tax

but, quicken downloads all those into single account, and as result tax planner does work and etc planning as all those transactions are marker as 401k before tax only.

how I can have correct split for my company Fidelity account on Quicken side to 3 accounts?

BTW - in my paycheck I track both before tax and after tax, but I specify the same Fidelity account for the cash

how to address this Fidelity specific issue?

thanks
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Comments

  • NotACPANotACPA SuperUser ✭✭✭✭✭
    When you log into Fidelity directly ... what shows there?
    Also, what Q product are you running and what BUILD of that product?  Do HELP, About Quicken for this info.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • mikek753mikek753 Member ✭✭
    hi,

    Quicken H&B 27.1.27.42

    at Fidelity for my company there is 1 account that has 5 sources
    , while for 2 tax types before and after taxes

    in the transaction history by source I can see what and where
    as there is the Source column that shows the source #
    like

    01 - PRE-TAX DEFERRALS
    10 - ROTH IN PLAN CONVERSION
    08 - EMPLOYER MATCH

    but, this is single account from Quicken side and all transactions are ignored the source # and loaded into single 401k before taxes account type, which is incorrect.

    I need the split that the source 01 will got to 401k type and 10 to Roth type in my Quicken

    from Fidelity -
    "A source is the origin of your money in your retirement plan. Examples of sources include: employee contribution (the money you contribute), company match (the money your employer may contribute), and rollover money (the money that you may have rolled over into this plan from a prior employer-sponsored retirement plan or an IRA)."

    this isn't unique for Fidelity company plans 401k plans to have 1 account and multiple sources, as in prev company I had worked for it the same.

    thanks
  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    For some FIs Quicken tracks the source using a short list - Roth is not included - but it is not very useful. For example there is no way in Quicken to report on your holdings in each sub-account.

    In theory you could create a different account in Quicken for each source, but this would get messy very quickly. For example when there is a dividend you would have to split it among the various accounts.

    When the time comes to start taking distributions from a 401(k) I think most people who have substantial Roth holdings roll over the 401(k) to separate Traditional and Roth IRAs so they can take RMDs just from the Traditional account leave the Roth money invested as long as possible.
    -- Jim QWin Premier subscription
  • mikek753mikek753 Member ✭✭
    thanks for the reply

    those are exact my problems :-( , that I asked how to solve in the Quicken

    no, nothing I can do on my company Fidelity account
    it's suppose to be common issue and I hope it's addressed somehow by now

    no, moving Roth out of current 401k isn't the option for me ether, as future contributions and also 401k have far better legal protection vs IRA

    yes, I was thinking to move transactions manually from downloaded account to manually tracked for Roth, didn't worked out ether

    in the download it comes as blob instead of multiple records per source per contribution per ticker

    are there any finance planning software / services that understand Fidelity sources?
  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    I have a similar problem trying to separate out the Roth part of my 401k. I generally just go to the FI website and look at it there.
    -- Jim QWin Premier subscription
  • mikek753mikek753 Member ✭✭
    yes, I can look at Fidelity
    but, my tax and long term planners in Quicken just don't work, which I need
  • NotACPANotACPA SuperUser ✭✭✭✭✭
    @mikek753, what exactly is a "transaction history by source" report ... and how can I create one?  Step by step, please.
    I'm not aware of any such report in Q.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • mikek753mikek753 Member ✭✭
    hi NotACPA,

    thanks for the reply.

    I was about Fidelity that has the Source
    the Q. doesn't have the Source and isn't aware of it at all.
    that was my main question - how to make Q to be Fidelity account Source aware?

    this is example from my company Fidelity account:

    06/24/2020 ⊖ Hide Details Dividend VANG SM CAP IDX INST $149.23 2.195
    Sources Amount Number of Shares
    PRE-TAX DEFERRALS $76.79 1.129
    CATCH UP $20.70 0.305
    EMPLOYER MATCH $23.64 0.348
    ROTH IN PLAN CONVERSION $28.10 0.413

    05/15/2020 ⊖ Hide Details Contributions INVS INTL SMID CP T2 $1,997.91 134.994
    Sources Amount Number of Shares
    AFTER TAX CONTRIBUTION $1,997.91 134.994
    05/15/2020 ⊖ Hide Details Balance Forward INVS INTL SMID CP T2 $0.00 0
    Sources Amount Number of Shares
    AFTER TAX CONTRIBUTION -$1,997.91 -134.994
    ROTH IN PLAN CONVERSION $1,997.91 134.994
    05/15/2020 ⊖ Hide Details Contributions VANG STRATEGIC EQ $1,427.08 56.473
    Sources Amount Number of Shares
    PRE-TAX DEFERRALS $1,427.08 56.473
    05/15/2020 ⊖ Hide Details Contributions VANG SM CAP IDX INST $1,427.09 23.212
    Sources Amount Number of Shares
    PRE-TAX DEFERRALS $1,427.09 23.212


    the Q. (Quicken) shows all above transactions as the same type and isn't the source aware. And as result no split between before tax and after tax - all are the same.

    what else I can provide to make it more clear about the issue I have with Quicken?

    thanks
    Mike
  • NotACPANotACPA SuperUser ✭✭✭✭✭
    OK, I'm a Fidelity customer also.  How do I get to that info at Fidelity.com?
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • mikek753mikek753 Member ✭✭
    hi NotACPA,

    this isn't Traditional IRA or Traditional Roth IRA, but 401k Plan

    you need to have 401k company plan that allows before and after tax contributions, also rollover from former company 401k
    company match / contribution to your 401k

    https://workplaceservices.fidelity.com/mybenefits/savings2/transactionhistory/detail

    summary->transaction history
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