cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

How do I book my Traditional IRA, Roth IRA and regular investment accounts? What kind of assets are these and when they rise/fall, how do I book that?

 
Solved
Best answer November 24, 2019

Best Answers
Highlighted
Level 7

How do I book my Traditional IRA, Roth IRA and regular investment accounts? What kind of assets are these and when they rise/fall, how do I book that?

Your retirement accounts are an asset.  Set up an other income account and call it Unrealized Gain/Loss.  Increase or decrease the changes in value in your account using this account.  Do not include additional funds contributed to the accounts.  That would be a reduction in your cash and an increase in the retirement account.  Unrealized gains and losses are for market changes.  Realized gains and losses are recorded when funds are sold which typically does not happen in a retirement account even though funds may be sold for other similar funds.

View solution in original post

2 Comments
Highlighted
Level 7

How do I book my Traditional IRA, Roth IRA and regular investment accounts? What kind of assets are these and when they rise/fall, how do I book that?

Your retirement accounts are an asset.  Set up an other income account and call it Unrealized Gain/Loss.  Increase or decrease the changes in value in your account using this account.  Do not include additional funds contributed to the accounts.  That would be a reduction in your cash and an increase in the retirement account.  Unrealized gains and losses are for market changes.  Realized gains and losses are recorded when funds are sold which typically does not happen in a retirement account even though funds may be sold for other similar funds.

View solution in original post

Highlighted
Level 1

How do I book my Traditional IRA, Roth IRA and regular investment accounts? What kind of assets are these and when they rise/fall, how do I book that?

Thank you so much!  This was very helpful!

Need to get in touch?

Contact us