Fidelity Roth 401(k)
I have read previous discussions, but I am unable to determine if any solution was suggested. I have a Roth 401(k) after tax deduction in a memorized paycheck. The Roth 401(k) is in a Fidelity 401(k). As was posted previously, Fidelity does not break these contributions down on their website and they show in one account. The Roth 401(k) contributions, although set up as an after tax deduction are reducing taxable income in tax planner. This is most likely because the transfer account is a combination account and set up as a pre-tax account. Is there any way to set this up (without having to create an separate Roth 401(k) so that taxable income is not reduced? It would seem that if it is set up as an after tax contribution that Quicken should know not to reduce taxable income.
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I'm also at Fidelity with a Roth 401k. I'm using a workaround; two accounts - one regular 401k, and one Roth 401k (setup as a Roth IRA in Quicken). My employer matching is on the regular side, my contributions are Roth. Every pay period I reconcile share balances with some side calculations - in NetBenefits, "balances", under "Holdings" I get my total shares of each fund. Then under "Sources", I can view "Roth" vs other sources. Reconcile shares on Roth side, then subtract total shares from Roth shares to get a share total to reconcile to shares in the standard 401k account. This at lease is possible the way Fidelity has it. My wife's employer 401 is at Empower Retirement and the share totals for Roth vs Regular are not reported separately anywhere.
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Wow! That's a lot of work! I would be doing that weekly. Interesting about your Wife's 401(k) with Empower. I had one through them (I left the employer) and it did break everything down by pre and post tax. Maybe it depends on the employer.
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