how to enter gain/loss in 401k account

[Tony Chen]

hi,

The mutual funds in my 401k plan do no have daily price. The quarterly
statement for each mutual fund has beginning balance, contribution, earning,
and ending balance.

I always use $1 per share for all mutual fund when I enter this data into
Quicken (2004). I use "Reinvest - Income Reinvested" to enter earning gain.
But when the earning is loss, then I can't use "Reinvest - Income
Reinvested" to enter the negative number.

Does anyone know a better way to enter this data correctly?

Thanks in advance.

Tony

[ChrisJ9876]

>From: "Tony Chen" tc123456_1999@hotmail.comDate: 11/21/2004 11:35 PM Eastern Standard TimeMessage-id: <10eod.582$TG2.376@trnddc01>hi,The mutual funds in my 401k plan do no have daily price. The quarterlystatement for each mutual fund has beginning balance, contribution, earning,and ending balance.I always use $1 per share for all mutual fund when I enter this data intoQuicken (2004). I use "Reinvest - Income Reinvested" to enter earning gain.But when the earning is loss, then I can't use "Reinvest - IncomeReinvested" to enter the negative number.Does anyone know a better way to enter this data correctly?Thanks in advance.Tony

Well, I keep mine fairly simple. I just keep it as a cash balance, and enter
the gain/loss once each month as "misc income". I don't need to be concerned
with share price, since gains will be taxed as ordinary income when withdrawn.
Chris

[Tony Chen]

Thanks Chris, I use "Remove - Shares Removed" now and probably it will work
OK. 401k is a pre-tax dollar and when we are ready to take dollar amount
out, I think IRS will tax this amount similarly like we get paycheck from
employer with tax deduction, correct?

Tony




"ChrisJ9876" <chrisj9876@aol.comnospam> wrote in message
news:20041122093936.07087.00000916@mb-m10.aol.com...From: "Tony Chen" tc123456_1999@hotmail.comDate: 11/21/2004 11:35 PM Eastern Standard TimeMessage-id: <10eod.582$TG2.376@trnddc01>hi,The mutual funds in my 401k plan do no have daily price. The quarterlystatement for each mutual fund has beginning balance, contribution,
earning,and ending balance.I always use $1 per share for all mutual fund when I enter this data intoQuicken (2004). I use "Reinvest - Income Reinvested" to enter earning
gain.But when the earning is loss, then I can't use "Reinvest - IncomeReinvested" to enter the negative number.Does anyone know a better way to enter this data correctly?Thanks in advance.Tony Well, I keep mine fairly simple. I just keep it as a cash balance, and
enter the gain/loss once each month as "misc income". I don't need to be
concerned with share price, since gains will be taxed as ordinary income when
withdrawn. Chris

[LJ]

Tony Chen wrote: Thanks Chris, I use "Remove - Shares Removed" now and probably it will work OK. 401k is a pre-tax dollar and when we are ready to take dollar amount out, I think IRS will tax this amount similarly like we get paycheck from employer with tax deduction, correct? Tony "ChrisJ9876" <chrisj9876@aol.comnospam> wrote in message news:20041122093936.07087.00000916@mb-m10.aol.com...From: "Tony Chen" tc123456_1999@hotmail.comDate: 11/21/2004 11:35 PM Eastern Standard TimeMessage-id: <10eod.582$TG2.376@trnddc01>hi,The mutual funds in my 401k plan do no have daily price. The quarterlystatement for each mutual fund has beginning balance, contribution, earning,and ending balance.I always use $1 per share for all mutual fund when I enter this data intoQuicken (2004). I use "Reinvest - Income Reinvested" to enter earning gain.But when the earning is loss, then I can't use "Reinvest - IncomeReinvested" to enter the negative number.Does anyone know a better way to enter this data correctly?Thanks in advance.TonyWell, I keep mine fairly simple. I just keep it as a cash balance, and enterthe gain/loss once each month as "misc income". I don't need to be concernedwith share price, since gains will be taxed as ordinary income when withdrawn. Chris
It all depends on how much information you want and how much work you
want to put into it. Personally, I track all the individual
transactions, then on a weekly or in your case, quarterly, I would
update the price of each of the funds. You would then be able to track
performance in the portfolio view. Obviously you won't see the daily
move, but it will keep how much your investment has hopefully
appreciated and it saves you from entering the balancing and counter
balancing income entries.

You could even make the data entry slightly easier.
Give all the funds made up tickers. Then create a comma separated
values file,csv (you can use Excel), the first column have the tickers,
(the ones you made up), in the second have the price, from your report.
Then go to Portfolio view and choose File | Import | Import Prices.
Enter the location of the csv file you created and the appropriate date
and all the prices will be imported.