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Tracking roth ira contributions

 
 
mvking
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      09-24-2007, 02:48 PM
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
 
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Dick Watson
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      09-24-2007, 06:28 PM
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" <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
>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



 
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mvking
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      10-01-2007, 02:54 PM
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" <(E-Mail Removed)> wrote in message
> news:(E-Mail Removed)...
> >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

>
>
>

 
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Dick Watson
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      10-01-2007, 06:07 PM
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" <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
> 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!



 
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