Oh I see. That makes sense. (And it's probably pro-rata as well, e.g. if you have 100k in contribs on an account worth 120k and you take out $1200, $200 would be taxable? That's what I'd expect the govt would do) I'd probably write a script to compute the contribution amount instead of tracking it explicitly
On Sat, Apr 24, 2021 at 8:40 PM William Bean <wbea...@gmail.com> wrote: > You can withdraw contributions at any time, tax free and penalty free, > regardless of age. However, if you withdraw more than your contributions > when younger than 59.5, then the gains portion would incur a penalty. Thus, > knowing your contribution amount is important if there is an intent to > withdraw any amounts prior to 59.5, which could occur in an emergency > situation or in early retirement. > > On Saturday, April 24, 2021 at 8:22:28 PM UTC-4 bl...@furius.ca wrote: > >> I still fail to understand. This would make sense for an After-Tax 401k, >> but for a Roth account, it's 100% non-taxable. >> The penalty is a constraint based on your age IIRC, there's nothing to >> track. >> >> >> On Sat, Apr 24, 2021 at 7:49 PM William Bean <wbe...@gmail.com> wrote: >> >>> Agreed. The actual investments and everything would be tracked as a >>> regular account. The contribution tracking would be something separate, >>> which is why I'm contemplating just an account with fake currency for this. >>> I intend to use it to track how much money I have available as an emergency >>> fund (in addition to other assets). It probably makes sense to just be an >>> asset with fake currency (or maybe just track the cash contributions via >>> metadata), but wasn't sure if anyone had come up with a better solution, so >>> figured I'd ask. >>> >>> On Saturday, April 24, 2021 at 7:22:05 PM UTC-4 bl...@furius.ca wrote: >>> >>>> I treat this as a regular account. >>>> Why would you track this? The whole point is to keep the account around >>>> for old age. >>>> >>>> >>>> On Sat, Apr 24, 2021 at 5:32 PM William Bean <wbe...@gmail.com> wrote: >>>> >>>>> Does anyone have a specific way they track Roth contributions in >>>>> Beancount, so you know how much you can withdraw penalty free before age >>>>> 59.5? I was thinking of just a simple asset account with fake currency, >>>>> but >>>>> wasn't sure if there was a more elegant way to do this? >>>>> >>>>> -- >>>>> You received this message because you are subscribed to the Google >>>>> Groups "Beancount" group. >>>>> To unsubscribe from this group and stop receiving emails from it, send >>>>> an email to beancount+...@googlegroups.com. >>>>> To view this discussion on the web visit >>>>> https://groups.google.com/d/msgid/beancount/CAO0DHEBwWTwDWm8VHD8jQj5dWKSd1O3ssBvsz4U%3DLb_%2BVqo18w%40mail.gmail.com >>>>> <https://groups.google.com/d/msgid/beancount/CAO0DHEBwWTwDWm8VHD8jQj5dWKSd1O3ssBvsz4U%3DLb_%2BVqo18w%40mail.gmail.com?utm_medium=email&utm_source=footer> >>>>> . >>>>> >>>> -- >>> You received this message because you are subscribed to the Google >>> Groups "Beancount" group. >>> To unsubscribe from this group and stop receiving emails from it, send >>> an email to beancount+...@googlegroups.com. >>> >> To view this discussion on the web visit >>> https://groups.google.com/d/msgid/beancount/b99d5cc5-ea1f-4083-81fe-a7820c0a3e91n%40googlegroups.com >>> <https://groups.google.com/d/msgid/beancount/b99d5cc5-ea1f-4083-81fe-a7820c0a3e91n%40googlegroups.com?utm_medium=email&utm_source=footer> >>> . >>> >> -- > You received this message because you are subscribed to the Google Groups > "Beancount" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to beancount+unsubscr...@googlegroups.com. > To view this discussion on the web visit > https://groups.google.com/d/msgid/beancount/7e6763a1-cdba-43a8-89ab-b582b057c4bbn%40googlegroups.com > <https://groups.google.com/d/msgid/beancount/7e6763a1-cdba-43a8-89ab-b582b057c4bbn%40googlegroups.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to beancount+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/CAK21%2BhMY1zdrU8eEbMtZgm40hyb7-r_tYkoYBt83C%2BxN0rzBEw%40mail.gmail.com.
