Once created go into the account details and set it as tax deferred.
#SAVINGS BOND WIZARD WINDOWS 10 MANUAL#
With the security created you need a manual entry brokerage account. Note once a bond matures, it drops off of this list. If you put in the final maturity date, there is an investment report to report these dates. To start you should create security per savings bond. For me it was a simple matter of putting in the total interest (which is redemption value minus the price paid for the bond ). I made no attempt to get an automatic transfer to a tax program right. On the subject of transferring the information to a tax program. In particular I choose to pay the tax at redemption or final maturity, but I wanted to have a record of the bond going up in value so I put my bonds in an account that I market tax deferred. See the IRS publication 550 which describe your choices on paying tax and who should be paying the tax. OK first let me say that I'm not giving any tax advice and how intend to do this on the taxes might change how you would record this in Quicken. The Savings Bond Wizard will give you the Final Maturity Date, which is 30 years. Note for 'maturity' I was talking about how people tend to talk about its 'maturity date', but not talking about 'Final Maturity Date'. There is no penalty for redeeming them early. In fact the whole concept of 'maturity' is 'interesting'.Īll they have done is calculated at what date bond will earn enough interest so that its value matches its face value. Note that savings bonds do not stop earning interest at maturity. I actually used the buy bonds action, and had to compensate for the fact that bonds are 10X.įranky I could have done just as well using Buy and just setting the security to Cash in the security details.Īs for redeeming them before maturity (or after), the Savings Bond Wizard will tell exactly how much they are worth. In other words Quicken provides nothing automatic and just records a value at a given date. The very best way to keep track of value of you savings bonds is with the savings bond wizard from:Ībout all you can do with Quicken is put each bond in as a security, buy the initial amount and keep up to date by looking how much the valuehas changed in the savings bond wizard and record it as interest income. You hold it to final maturity, you won't get $25, you will get more because they don't stop earning interest when they hit face value. In reality I believe that Savings bonds are not like other bonds.įor instance you buy a bond for $18.75 (I believe that is the number for a $25 bond).
#SAVINGS BOND WIZARD WINDOWS 10 PLUS#
The value of the bond initial value entered, plus the interest. And then record an interest income transaction when I got interest. Since I only started recording my bonds long after they hit face value I put in the face value and then an entry for the interest accumulated past that value.
I put my savings bonds in brokerage account and marked it tax deferred. If it is a tax deferred account or you are paying taxes on the interest every year, you would record Interest Income for the interest as it accumulates and let the interest money accumulate as cash in the account.
When you sell the bond, you would record all the accumulated interest then sell the bond at $25.00. If you have a $100 bond, you could buy 1 'share' for $50.00 and periodically change the share price to match the current value. Most people let the interest add to the value of the bond and only pay taxes on it when they sell the bond. I am not an expert on savings bonds in Quicken, but I think the best way to handle this depends on how you will be treating the interest for tax purposes.
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