Adding a I-Series Savings Bond - Additional Question to Closed Thread

mabrent
mabrent Member ✭✭
edited June 2022 in Investing (Windows)
I have the same issue as the thread, "Simple creation of Treasury Direct account with I-bonds"

https://community.quicken.com/discussion/7896568/simple-creation-of-treasury-direct-account-with-i-bonds

The thread is good but it says to use "Buy Bond" for the transaction. Quicken, in their thread, "How do I buy a bond? (All types except U.S. Savings Bonds)," say specifically not to use this method but instead use "Buy a Security."

https://help.quicken.com/pages/viewpage.action?pageId=3216594

Once you get to "Buy a Security," it has no information on how to do a Savings Bond purchase or why to use this method.

https://help.quicken.com/pages/viewpage.action?pageId=3216593

Question: Which method should I use? Quicken provides no guidance for why they say use "Buy a Security" nor do they provide any information specific to Savings Bonds in that help section.

Comments

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    If you haven't already, you may want to review: https://help.quicken.com/pages/viewpage.action?pageId=3216621
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    US Bonds can be divided into securities that you can buy and sell on an exchange, and those that can't.  I-Bonds fall into the later category. 
    You can only buy them or redeem them though the US Government.  Since there's really no "market" for I-Bonds and regular Savings bonds there's no "market" fluctuation in the market value. Typically you defer recognizing interest income until you cash it in or the bond matures, so there's really nothing to account for until you cash it in or it matures. 
    Also these bonds are basically issued for any amount - up to the maximum - so the "100's" pricing convention, the pricing method used by the Buy Bond action basically doesn't work here.
    The Buy Bond action is really geared towards "traded" bonds.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    For more information on tracking I bonds in Quicken, please see this discussion
    https://community.quicken.com/discussion/comment/20265472#Comment_20265472
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