How do I enter 401(k) catch-up contributions


If you make catch-up contributions to your 401(k), you should be sure to account for them in Quicken, either when you enter your paycheck transaction or when you update your 401(k).

Enter your 401(k) contributions using the method that best fits your situation:

If you've set up your paycheck in Quicken

Edit your paycheck to include the catch-up contributions:

  1. Choose Tools menu > Manage Bill & Income Reminders.
  2. Select the paycheck you want to change, and click Edit.
  3. In the Edit Future Paychecks (series) window, click Add Pre-Tax Deduction.
  4. Choose Other Pre-Tax Deduction.
    • In the Name field, enter 401(k) Catch-up Contribution.
    • In the Category field, select your 401(k) account.
    • In the Amount field, enter the amount from your paycheck that is identified as being a catch-up contribution.
  5. Click Done.

If you've not set up your paycheck in Quicken:
Update your 401(k) account as you usually do, but when you're prompted to enter employee contributions, include an amount that includes both your regular employee contributions and your catch-up contributions.

  • If you're using the 401(k) Update wizard, include the catch-up contributions on the Enter your statement information screen, in the field Total contributions and loan payments. Remember, if your 401(k) statement breaks out your regular contribution and catchup contribution as two separate amounts, you'll probably have to manually calculate the total.
  • If you enter 401(k) transactions manually, you can enter the catch-up contributions the same way that you would enter any other investment transaction.
  • If you download 401(k) transactions, the downloaded transactions should already account for your catch-up contributions.

 

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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.