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Roth 401K Deducts Before Taxes (Clarification)

Mar 27, 2016 11:47AM EDT

In the budgeting plan the table on the right starts with "Gross Income" and then deducts "Retirement", "Health" and "Other Deductions" to calculate my final take home. I understand the "Retirement" deduction is calculated based off my profile information (salary & retirement contribution %). However, it seems the calculation for retirement doesn't recognize when a retirement account should be a pre-tax gross income deduction versus a post-tax deduction. I currently have a Roth 401K contribution that is a post-tax deduction from my gross income but in my budget the amount represents a pre-tax deduction (which is misleading). Can this be fixed?

Best Answer

HelloWallet Support Answer

Mar 28, 2016 05:51PM EDT
Joe
HelloWallet Support

You can change the subtype of the account in the Accounts tab, and if you change it to a Roth, that should correct this.

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