Simple creation of Treasury Direct account with I-bonds

lindycorp
lindycorp Member ✭✭
edited July 17 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.

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    edited July 17
    (Deleted comment.  It was accidentally entered before it was complete.)
    (QW Premier Subscription: R34.24 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 ✭✭✭✭
    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: R34.24 on Windows 10)
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