Simple creation of Treasury Direct account with I-bonds

lindycorp
lindycorp Member ✭✭
edited April 9 in Investing (Windows)
I want to show 2 series I bonds inside a treasury direct account. I would like that to show up in the Investing section and as an asset. I'm fine entering the interest transactions and change in value manually. I do want to show the money leaving my checking/savings and funding the purchase of those bonds. How does one do this in Quicken Home and Business (latest windoze version). Seems over complicated. Any help greatly appreciated, tnx.

Best Answer

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
    Hi @lindycorp .  Sorry for messing up my 1st reply.  I got sidetracked and accidentally hit enter.  :smiley:
    Anyway, here is the complete reply I was planning to post.  I think it answers you last question as well.  Let me know if it does or does not.:
    How I would do this (it would work with any edition of Quicken except for Starter):
    1. Add Account > + Offline Account > Brokerage > Complete Investing > Next > Enter an account name (i.e., Series 1 Savings Bonds) > Next > enter the date the actual account was created > enter the dollar amount you used to set up the actual account > Next > Next (do not enter any securities) > Yes > Done > Finish.
    2. Account Register > change the Opening Balance transaction category to a transfer category...this will be your Bank account name in Quicken enclosed in brackets.  Example:  [My Checking].  This will enter a transaction in your bank account that transfers the money into the brokerage account and it will be the opening cash balance in the brokerage account.
    3. Account Register > Enter Transactions > select Bonds Bought > click on the drop-down button on the right side of the  Security name field > Add Security > Click here > Ticker Symbol = Bond number (or whatever you want...will need to be different for the 2nd bond) > Bond name (maybe "Series 1 Savings Bond" followed by the maturity date) > Security Type = US Savings Bond > Enter the maturity date > Done > enter the purchase information > in the Use cash for this transaction box, make sure From this account's cash balance is ticked > Enter/Done.
    4. Repeat #3 for the 2nd Bond but for the name maybe use the name "Series 1 Savings Bond" followed by the maturity date (needs to be different from the 1st Bond).
    5. Now each bond will be included in the brokerage account as separate securities.
    One other suggestion:  If you plan to use these bonds to pay for qualified higher education costs for yourself, your spouse, or any of your dependents you might want to designate these bonds as Tax Exempt by going to Account Register > Holdings > click on the 1st Bond > Edit Details > check the Tax Free box > OK.  Repeat for the 2nd Bond.
    (QW Premier Subscription: R39.23 on Windows 10)

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited July 2021
    (Deleted comment.  It was accidentally entered before it was complete.)
    (QW Premier Subscription: R39.23 on Windows 10)
  • lindycorp
    lindycorp Member ✭✭
    LOL after a couple other methods, I actually did that and felt like it was close. I initially entered the account amount as 0 thinking I would then add a transaction or security inside it to represent the bond. I had already entered two purchase transactions in the checking and savings and updated the category to be this "Treasury Direct" account. That left me with 2 Xln ("transferred cash in") transactions and at least an accurate balance in the account. I was hoping to be able to open an account, and show the bonds as 2 Securities inside the investment account. Is there a way to do that or based on the vagaries of quicken should I just call it a day?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    OK, so now you have the cash in the investing account that you used to buy the bonds.

    Please see this Help article for info on what to do next
    https://www.quicken.com/support/how-add-bond-quicken-security-list
    QWin Premier subscription
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
    Hi @lindycorp .  Sorry for messing up my 1st reply.  I got sidetracked and accidentally hit enter.  :smiley:
    Anyway, here is the complete reply I was planning to post.  I think it answers you last question as well.  Let me know if it does or does not.:
    How I would do this (it would work with any edition of Quicken except for Starter):
    1. Add Account > + Offline Account > Brokerage > Complete Investing > Next > Enter an account name (i.e., Series 1 Savings Bonds) > Next > enter the date the actual account was created > enter the dollar amount you used to set up the actual account > Next > Next (do not enter any securities) > Yes > Done > Finish.
    2. Account Register > change the Opening Balance transaction category to a transfer category...this will be your Bank account name in Quicken enclosed in brackets.  Example:  [My Checking].  This will enter a transaction in your bank account that transfers the money into the brokerage account and it will be the opening cash balance in the brokerage account.
    3. Account Register > Enter Transactions > select Bonds Bought > click on the drop-down button on the right side of the  Security name field > Add Security > Click here > Ticker Symbol = Bond number (or whatever you want...will need to be different for the 2nd bond) > Bond name (maybe "Series 1 Savings Bond" followed by the maturity date) > Security Type = US Savings Bond > Enter the maturity date > Done > enter the purchase information > in the Use cash for this transaction box, make sure From this account's cash balance is ticked > Enter/Done.
    4. Repeat #3 for the 2nd Bond but for the name maybe use the name "Series 1 Savings Bond" followed by the maturity date (needs to be different from the 1st Bond).
    5. Now each bond will be included in the brokerage account as separate securities.
    One other suggestion:  If you plan to use these bonds to pay for qualified higher education costs for yourself, your spouse, or any of your dependents you might want to designate these bonds as Tax Exempt by going to Account Register > Holdings > click on the 1st Bond > Edit Details > check the Tax Free box > OK.  Repeat for the 2nd Bond.
    (QW Premier Subscription: R39.23 on Windows 10)
  • EmKay
    EmKay Member ✭✭✭
    OK, so now you have the cash in the investing account that you used to buy the bonds.

    Please see this Help article for info on what to do next
    https://www.quicken.com/support/how-add-bond-quicken-security-list

    Hey, @Jim_Harman, that link takes me to a sales page.  Do you have an updated link for this process?
    thanks
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Sorry, it appears the link I posted is no longer available. It looks like @Boatnmaniac's process should work.
    QWin Premier subscription
  • Bill25
    Bill25 Member ✭✭✭
    This is so totally HILARIOUS!!  I had the same question and came across this page which is SOOOO very helpful in a FederalGovernment kind of way.  I particularly like that they have a special section for DIAL UP MODEM users, like most of their customers (I know, they don't use that word). And they give excellent instruction on how to do a LEFT mouse click. Oh wow.  And special hints for NETSCAPE users.  Hahahahaha. What a 1987 sort of help page.
    https://www.treasurydirect.gov/helpdownload.htm
     :D  :D;):open_mouth:
    Quicken (and TurboTax FWIW) user since 1992.
    Windows IT Administrator since 2002.
    Windows 11 Pro running on a crappy off-the-shelf HP PC.
    Beer lover since 1968.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Yeah, that's our tax dollars at work!  :D
    Believe it or not, though, there are still a lot of people who are still using dial up modem Internet, especially in rural and low income communities.  Hard to believe in this day and age but expanding high speed broadband to these areas is one of the big initiatives in the Infrastructure bill that was signed into law in January.  Where I live (in a smaller village of about 1000 people only 15 miles outside of the Austin, TX, metro area) the only AT&T Internet service is dial up modem...much higher speed than it used to be but still very old school.  Fibre optics here is just a pipe dream.  Fortunately, we also have Internet access via cable in this area.
    (QW Premier Subscription: R39.23 on Windows 10)
This discussion has been closed.