QuickBooks Accounting Software - IRA Payments

I realize that IRAs are Individual Retirement Accounts and therefore probably don't "properly" belong in a QuickBooks business account. However, I run a personal LLC and have my personal and business accounts in the same file for ease of use. I do have separate bank accounts and separate credit cards, but I just manage them in one location so I don't have to log in and out of two different accounts all the time.

So one downside of doing this in QuickBooks and not, say, Quicken is that QuickBooks apparently does NOT have a type of asset set up for investments. It took me a while of digging to figure this out :) So then when you try to create an "Other Current Asset" for your IRA, and indicate that payments into this asset of yours should be tagged to the "Form 1040 - IRA contributions" line of your taxes, the system gets cranky. I have accepted that as a quirk of using QuickBooks in the fashion I am doing it.

Previously I'd been told by someone to set this IRA up as an "equity" entry - but this meant it showed up as a negative amount on all my reports. Which didn't make sense. This isn't some sort of a holding area for quarterly tax payments. This is more like a bank account. I pay money into it and it sits there until eventually I plan on withdrawing it. So it's a stationary, positive value bucket.

Please let me know if other people handle this differently!

I want to note here that I am not an accountant, so if someone is doing this for tax reasons, they should always talk with their accountant

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