How should gains in my 401K be categorized?

bmac

I am under 59.5 years old and do not make withdraws from my 401K. However, since I linked my 401K to Quicken, gains/dividends are being categorized as "personal income" and making my available income higher than it really is. I am new to Quicken and just wondering how I should categorize 401K gains and dividends so that they don't impact my income on the reports in Quicken?

DannyB

You will need to manually change the "Action" for each of these transactions. If you click on the "Action" field you will see a list of options. Select the appropriate Action from the list and see if that helps fix this issue for you,

SRC54

Besides what @dannyb suggests, you can go to Settings:Accounts and tell Simplifi to ignore your 401K from Spending Plan and Reports. This is what I do with my IRAs. It will still include it in your net worth and you will still see the transfers you make to it when you contribute to it. It works well.

DannyB

https://community.simplifimoney.com/discussion/comment/53168#Comment_53168

Excellent point, Steve. I had forgotten about that option since I have long since disconnected my retirement investment accounts from QS. I track my net worth in my account at my financial advisor's website. There dashboard and accompanying tools do a great job of keeping my NW up to date and don't see any need to duplicate that here.