Roth 401(k) account not listed for after-tax deduction on paycheck
I'm on Windows 11, Quicken Classic version R54.9.
I recently created changed 401(k) accounts and created a new account in Quicken. When I go to edit my paycheck in Quicken and edit the after-tax (Roth) deduction, the new account is not listed in the drop-down. 11 other accounts are. Same deal if I delete the existing after tax deduction and try to add it new.
The account does show up for pre-tax deductions, but I'm making after-tax contributions. Any ideas?
Answers
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Hello @V_V_V,
To help troubleshoot this issue, could you please provide more information? When did you first notice this issue? Is this happening when editing one specific instance of a Paycheck reminder, or is this happening when editing the instance + all future instances of the reminder? Do you have any Roth 401k accounts that it does let you select?
I look forward to your reply!
Quicken Kristina
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I first noticed it when I created a new 401(k) account several months ago when my employer changed 401(k) providers. It happens when editing any existing instance of a paycheck transaction in my checking account register, or the reminder instance + all future instances. Even if I go back to a paycheck from several years ago the new 401(k) account also does not show up as an option in the After-Tax Deduction / Roth 401(k) account list. It does show up in the Pre-Tax Deduction / 401(k) account list in all cases. There are several Roth IRA accounts that show up as After-Tax Deduction / Roth 401(k) account options, but those are IRAs, not the actual 401(k) account. The 401(k) account does contain both Roth and pre-tax contributions, but this is not uncommon.
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Thank you for your reply,
What type of account does the Roth 401k show as in Quicken? You can check that by going to Tools>Account List, clicking the Edit button next to that account, and you should see Account type on the details tab, right under the Account name and Description fields.
To further troubleshoot this issue, please backup your Quicken file, then try creating a new Paycheck reminder to test if it will let you add it correctly in the new reminder.
Please let me know how it goes!
Quicken Kristina
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Having the same issue. If I put the account as a 401k I don’t see it. I was told to make it an offline other investment account. Seems like a workaround rather than a fix. Either way, it still doesn’t let me enter an employer match with an after tax Roth 401k contribution. Looks like this has been an issue for almost a year now
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Quicken Programmers: This is still a problem as of 2/22/2024. When will the Roth 401(k) contribution in Paycheck Setup be functional? If you have fixed this problem, please pin step-by-step guide that is easily found when searching the community. It should also be an article easily found in Quicken Help within the softwar.
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Hello @Hilife35 and @daphilbrick,
To troubleshoot this issue, could you please test to see if the same issue happens when creating a new paycheck income reminder?
I look forward to your response!
Quicken Kristina
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Has there been a fix applied for this? I am currently experiencing this issue. I have tried creating a new 401(k) account, alternating between yes and no for tax deferred, and setting up a new paycheck. No luck. I am still unable to see the Roth 401(k) account as an option in After-Tax deductions when setting up a paycheck.
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I have making Roth contributions to my 401k account. When I attempt to set up my paycheck with this after-tax deduction and choose "Roth 401(k)" as the type, my 401k account is not among the accounts that I can choose. Another poster wrote a post "Can't add an account for Roth IRA contribution" with this same issue, and the only suggestion was to restart Quicken, but this didn't work for me. That thread has been closed so I can't add that I'm having the same issue. How have others gotten this fixed?
I made some Roth contributions to my 401k account last year, and I can see that the additions showing in Quicken from last year have the correct tag ("\Roth401KContrib"), so the feature must have been working a year ago, but I can't remember the exact steps that existed back then to know why I can't get it to work now.
I am using version R55.15 of Quicken Deluxe.
[Merged Post]
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Hello @zachonhismac,
When did you first notice this issue? If you have more than one paycheck reminder, does this affect all of them, or just one? Do you have the Roth 401k account set up in your Quicken file? If so, what is the name of that account, as it appears in the Quicken file? If you haven't done so already, please go to Help>Report a Problem and send a problem report with the log files attached, and if you're willing, with the sanitized data file attached.
Thank you!
Quicken Kristina
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Hello @khg,
When did you first notice this issue? If you have more than one paycheck reminder, do you have this issue in all of them, or just one? Do you encounter this issue when creating a new Paycheck reminder also?
Just to verify the process you're using, you're in the edit (or create) Paycheck section, After-Tax Deductions section. You click the Add After-Tax Deduction dropdown.
Then, from that dropdown, you're selecting Roth 401(k).
That brings up an Add Roth 401(k) Deduction window, and you are not seeing your account listed in that dropdown.
Is this what is happening? If not, could you please provide additional detail where you're running into trouble.
Also, please go to Help>Report a Problem and send a Problem Report with the log files attached and (if you're willing), a sanitized copy of your data file.
I look forward to your response!
Quicken Kristina
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@Quicken Kristina I noticed the issue the day I submitted the question. I last used the Roth 401k option about a year ago, and had no reason to try it in the intervening year, so I don't know when it stopped working. You have correctly interpreted my problem. The 401k account I need to select has been in Quicken for many, many years. I already submitted the issue through the "Report a Problem" module. I am editing an existing paycheck. I have no need to create a new paycheck reminder. Currently, I only need this option for one of our two paycheck reminders (we do not have the Roth option in the other), however, as an experiment I attempted to set up a Roth contribution in other reminder and the same list of accounts are available, which means the 401k account I need is not listed. I notice now that the other 401k/403b account we have is not listed, either. In fact, the list of accounts has just about every brokerage-style account we own, EXCEPT the two 401k/403b accounts, meaning the list contains accounts that aren't identified as 401k/403b accounts and aren't even needed in this drop down, but it DOESN'T have the two accounts that are actually identified as the correct account type.
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(I cannot figure out how to edit my post from this morning.) I experimented with setting up a new paycheck, and the same issue occurs: Of all our investment accounts, the only ones that DO NOT appear for selection for a Roth after-tax contribution are our 401k and 403b accounts.
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Thank you for your reply,
Just in case this is being caused by a file specific issue, please try validating and/or super validating your data file. Please save a backup file prior to performing these steps.
Validate:
- File
- Validate and Repair File...
- Validate File
- Click OK
- Close the Data Log
- Close Quicken (leave it closed for at least 5 secs)
- Reopen Quicken and see if the issue persists.
If the issue persists, proceed to Super Validate. If the issue is resolved after performing validation, then please disregard the instructions to Super Validate.
Super Validate:
- File
- Hold CTRL + Shift and click Validate and Repair File...
- Super Validate File
- Click OK
- Close the Data Log
- Close Quicken (leave it closed for at least 5 secs)
- Reopen Quicken and see if the issue persists.
If the issue persists after performing the Validate/Super Validate, please try restoring a backup from before you first noticed the issue and test to see if the issue persists in that newly restored file.
Quicken Kristina
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This is happening to me as well. Just noticed it yesterday when I went to update my husband's paycheck reminder due to a raise. I already had the roth 401k after tax deduction set up from a while ago, just wanted to update the amount. It will not let me just update the amount, wants me to choose an account again. We have 6 investment accounts, 3 of which are 401k. Only the OTHER 3 accounts are showing up in the list, no 401k account can be chosen.
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@
@Quicken Kristina I noticed in this post your screen shot for the example has an account that is specifically identified as a "Roth IRA." Of course, my (and I'm sure the other posters with the same issue) are putting our Roth 401(k) contributions into accounts that are identified as 401(k) accounts, NOT Roth IRA accounts. These are not contributions to a "Roth IRA" account, but rather after-tax contributions to a "401k account." Those contributions can be of either kind, so the 401k accounts contain a mix of pre- and after-tax contributions. One has to have the ability to place all 401k contributions, whatever kind they are, into the same Quicken account. We wouldn't be able to connect to the plan administrator's system if we set it up differently.
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@Quicken Kristina Just to cover my bases, I both validated and super-validated, although neither solved the problem. This doesn't surprise me, since others are reporting the same issue, which makes it pretty clear this isn't a file-specific issue. Understand, I can't restore a backup file because the last time I know this feature worked was at least a year ago. I cannot rebuild everything I've done in the last year, so this is not a viable option.
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Thank you for your replies,
Just to clarify, when you go to Tools>Account List and click the Edit button next to your Roth 401k, does the Account type on the General tab show as 401k or 403(b)?
Thank you!
Quicken Kristina
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Yes, my 401k account is (and has always been) "Account type: 401k or 403(b)".
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Mine looks the same.
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Thank you both for confirming,
I forwarded this issue to the proper channels to be further investigated. In the meantime, @lindem22 please navigate to Help > Report a problem and submit a problem report with log files attached and (if you are willing) a sanitized copy of your data file in order to contribute to the investigation.
While you will not receive a response through this submission, these reports will help our teams in further investigating the issue. The more problem reports we receive, the better.
We apologize for any inconvenience!
Thank you.
(CTP-9516)
Quicken Kristina
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To echo the other user's comments, I make both Pre-Tax contributions to my 401k through payroll deductions as well as After-Tax Roth contributions to the same 401k account. Both contributions (plus the employer match) go to the SAME 401k account, however Quicken will only show the account once and it is not available as an option when setting up the After Tax Roth contributions.
_________________________________________________Using Quicken Deluxe R50.8 Build 27.1.50.8 USA
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This is the same issue I've been trying to figure out today. My wife's Roth contributions have been messed up for two paychecks now, starting on March 15. I just noticed it today while looking at the tax schedule for this year, while trying to troubleshoot a different issue I'm having, and I've been trying to figure out why I can't fix it. I can't delete the existing Roth 401k contribution in her paycheck because it won't let me select her 401k account as the transfer destination from the dropdown list when I try to create a new Roth contribution from her existing paycheck. I've had zero issues with her paycheck that has been in place for 6 years with Roth contributions after tax, until this month. Somehow, I'm also getting the 2024 tax schedule showing the infamous hidden "_401ContribSpouse" category for her Roth contributions now, when it wasn't doing that until her March 15 paycheck. So now, it's throwing off her W2 salary in the reports and reducing her W2 income by deducting the Roth contribution amount, which is totally wrong. Roth contributions are AFTER TAX. They DO NOT reduce taxable W2 income, as the tax schedule is now showing it doing.
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I also am having the issue with not seeing the 401k option in the drop-down.
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Hi, just found this forum and have been reporting via the Feedback option since January of this year. The issue of not being able to select an existing employer (or other) 401(k) account to record the Roth deduction to started after an update last November (2023). Something in that release broke this function and it's been broken since as others have already documented. My employer paycheck is messed up but I didn't touch my wife's paycheck and it's still working and can change the amount but if I had to change to a different account, that account would not be displayed in the pick list. The pick list should include all investments accounts. My current workaround is that I can only record this payroll transaction in my paycheck as a Pre-tax deduction. I check if this has been fixed with each new release, but it has not been fixed.
Please advise.
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I have the same issue. Only old investment accounts appear on the dropdown when I select Roth 401k as an after-tax deduction. All active investment and retirement accounts should appear on the account selection dropdown. Please advise as to when this will be fixed. This is a major issue for tax reporting.
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Version R57.12 just dropped and I see still no fix for this issue. <sigh>
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Is there any resolution to this? My 401k does not show in the drop-down of the Paycheck Wizard for my Roth 401k contribution.
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Be careful what you ask for. The paycheck in Quicken has not worked properly since the attempted addition of the Roth 401k type account. To this day, the Pre-tax section will refuse to show the name of a regular 401k account in the "Account" field below when a) the amount being deducted from one's paycheck is $0.00 and b) the employer match is > $0.00. See example below….
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