How to set up a HSA account with security investments as well as savings?

Unknown
Unknown Member
edited July 2018 in Investing (Mac)
I have a HSA account set up as a savings account.  There is enough money in there now that I want to start investing some of it in securities.  I am not sure how to set that up.  Any help would be appreciated.
I am on a MAC with Quicken 2017 as well as Quicken 2018.

Comments

  • Unknown
    Unknown Member
    edited June 2018
    Option 2 seems to be the way to go.  I have data going back to 2006 with transfers from paychecks ( meaning having to edit 300 some transactions).
    Thanks for the suggestion.
  • Crashmeister
    Crashmeister Member ✭✭
    edited June 2018
    We have a MasterCard linked to the HSA. Showing that in an investment account does not feel right.

    What I did:
    1. Have a Savings Account for the HSA. Deposits from paycheck, payments to doctors, pharmacy et.al. are in there.
    2. Have an Investment account to hold the securities.
    When investing, transfer from Savings to Investment. Reverse when withdrawing.

    This keeps the investment part separate and clearly defines what is happening in real life.
    Nothing is foolproof to a sufficiently talented fool.
  • Paul3
    Paul3 Quicken Mac Subscription Member ✭✭✭
    edited June 2018
    Crashmeister said:

    We have a MasterCard linked to the HSA. Showing that in an investment account does not feel right.

    What I did:
    1. Have a Savings Account for the HSA. Deposits from paycheck, payments to doctors, pharmacy et.al. are in there.
    2. Have an Investment account to hold the securities.
    When investing, transfer from Savings to Investment. Reverse when withdrawing.

    This keeps the investment part separate and clearly defines what is happening in real life.

    I took the same approach, since the investment account is a distinct account at my provider as well.  Unfortunately I haven't found a way to connect Quicken to the investment account directly, since everything appears in the HSA web site, not in the underlying brokerage provider.
  • Fred L
    Fred L Member ✭✭✭
    edited January 2019
    REQUEST: add an HSA account type and associated tax entries.
    Quicken Mac 5.6.3
    Similarly, I have two HSA accounts set up in Quicken ... a checking account which includes BillPay transactions as well as use of the debit card, and a brokerage account ("other"). My question is, since HSAs are triple-tax sheltered (contributions, growth and distributions) why doesn't Quicken have this as an account type so that interest and dividends don't show up in the tax schedule report but contributions (5498-SA) do?
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