Tracking roth ira contributions

Discussion in 'Microsoft Money' started by mvking, Sep 24, 2007.

  1. mvking

    mvking Guest

    I use ms money to track investments in my roth ira. I feel that I'm missing
    something simple or I set it up incorrectly, but the way I have it, the
    amount shown in "contributions" is actually just the cash balance associated
    with the account. I feel stupid for asking, but how do I find and keep track
    of the total money I have actually contributed to the account as well as for
    each year? Thanks
     
    mvking, Sep 24, 2007
    #1
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  2. mvking

    Dick Watson Guest

    The "Contributions" account is the "cash component" of the investment
    account. As such, general practice is to transfer money to it and then buy
    investments from it in the Investments Account.

    To find and keep track of the total money you have contributed to the
    account as well as for each year, the best bet is to tailor reports (I'd
    start with Account Transactions) on the Contributions Account by year and/or
    for Transfers in from some the accounts where you are getting the money
    from.

    I'm assuming you have been following normal practice and transferring funds
    to the contribution account then investing them in the investment account
    form there. It also assumes you are using Advanced Registers and Advanced
    Reports.

    "mvking" <> wrote in message
    news:...
    >I use ms money to track investments in my roth ira. I feel that I'm
    >missing
    > something simple or I set it up incorrectly, but the way I have it, the
    > amount shown in "contributions" is actually just the cash balance
    > associated
    > with the account. I feel stupid for asking, but how do I find and keep
    > track
    > of the total money I have actually contributed to the account as well as
    > for
    > each year? Thanks
     
    Dick Watson, Sep 24, 2007
    #2
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  3. mvking

    mvking Guest

    I was using advanced registers & reports, and I did transfer contributions to
    the cash component of the investment account. I think I may have had trouble
    with certain "adjustments" I made when I started using money in that prior
    contributions were included in the opening balances. But I messed around
    with reports and finally got the totals I wanted.

    I still think it is somewhat misleading to call the cash component
    "contributions," but at least now I can find what I want in my favorite
    reports! Thanks! Now all I have to do is find a way to attribute
    contributions paid in one year to the prior actual contribution year!
    Something to do when I have insomnia!

    "Dick Watson" wrote:

    > The "Contributions" account is the "cash component" of the investment
    > account. As such, general practice is to transfer money to it and then buy
    > investments from it in the Investments Account.
    >
    > To find and keep track of the total money you have contributed to the
    > account as well as for each year, the best bet is to tailor reports (I'd
    > start with Account Transactions) on the Contributions Account by year and/or
    > for Transfers in from some the accounts where you are getting the money
    > from.
    >
    > I'm assuming you have been following normal practice and transferring funds
    > to the contribution account then investing them in the investment account
    > form there. It also assumes you are using Advanced Registers and Advanced
    > Reports.
    >
    > "mvking" <> wrote in message
    > news:...
    > >I use ms money to track investments in my roth ira. I feel that I'm
    > >missing
    > > something simple or I set it up incorrectly, but the way I have it, the
    > > amount shown in "contributions" is actually just the cash balance
    > > associated
    > > with the account. I feel stupid for asking, but how do I find and keep
    > > track
    > > of the total money I have actually contributed to the account as well as
    > > for
    > > each year? Thanks

    >
    >
    >
     
    mvking, Oct 1, 2007
    #3
  4. mvking

    Dick Watson Guest

    You can rename the cash account as it suits you. I agree that the name
    "contributions" on anything where it stays my money (401k, IRA) is kinda
    bogus, but it's all over the tax law and so forth by now.

    "mvking" <> wrote in message
    news:...
    > I still think it is somewhat misleading to call the cash component
    > "contributions," but at least now I can find what I want in my favorite
    > reports!
     
    Dick Watson, Oct 1, 2007
    #4
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