track loan from my 401k

[Tom Collier]

You'd track it like any other loan...it's just from yourself to
yourself.

Create a new Liability account called "401k" Loan or whatever you want
to name it. The Opening Balance would be whatever your original loan
amount is.

Then, if you don't already have one, also create an "interest paid"
account under Expenses. 

As you make payments on the loan, you'll split each payment: $xxx to
principal reduction, and allocated to your 401k liability account, and
$xxx allocated to interest expense, until it's paid down to a zero
balance.  Your statement should give you the split, as in $$$ to
principal reduction, $$$ to interest.

Tom

On Mon, 2012-01-16 at 17:17 -0500, Maria Iano wrote:

> What is the best way to track a loan from my 401k to myself. My 401k  
> statement shows it as a withdrawal that reduces the balance, and my  
> checking account shows the amount has been deposited in the account.  
> I'm not sure how to track it within gnucash so I can see my  
> outstanding liability.
> 
> Thanks,
> Maria
>