Savings Bond Wizard For Mac
Posted : admin On 11/7/2019More than 95% of savings bonds are cashed at local banks and credit unions. Here's why: It's quick and easy (you get your money right away). You can immediately reinvest your money with the bank. Your bank can help if you're making a major purchase or investment, too.
Home›Quicken for Windows›Errors and Troubleshooting (Windows)- Login to Your Account TreasuryDirect. In this program, you can buy and maintain savings bonds, Treasury bills, Treasury notes, Treasury bonds, Treasury Inflation-Protected Securities (TIPS), and Floating Rate Notes in accounts with the U.S.
- Savings Bond Wizard® has several features to help you keep track of your bond inventory. Importing and Exporting Inventory Files: the Wizard imports and exports inventory files created from: - The Savings Bond Calculator that are saved as.htm files. Other spreadsheet software (i.e., Microsoft Excel®) that are saved as.csv files.
edited October 2018 in Errors and Troubleshooting (Windows)
I have some very old savings bonds that will mature between 2017 and 2025. I just bought Quickens 2017 for Windows (first time user). How do I keep track of these bonds? What if I redeem them before maturity?
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Savings Bond Wizard For Macs
- edited October 2018The very best way to keep track of value of you savings bonds is with the savings bond wizard from:
https://www.savingsbondwizard.gov/
About 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.
In other words Quicken provides nothing automatic and just records a value at a given date.
I actually used the buy bonds action, and had to compensate for the fact that bonds are 10X.
Franky I could have done just as well using Buy and just setting the security to Cash in the security details.
As for redeeming them before maturity (or after), the Savings Bond Wizard will tell exactly how much they are worth. Note that savings bonds do not stop earning interest at maturity.
In fact the whole concept of 'maturity' is 'interesting'.
All they have done is calculated at what date bond will earn enough interest so that its value matches its face value. There is no penalty for redeeming them early.
Note for 'maturity' I was talking about how people tend to talk about its 'maturity date', but not talking about 'Final Maturity Date'. The Savings Bond Wizard will give you the Final Maturity Date, which is 30 years. - edited February 2017I understand how to get the value of the bonds online. The question is two-fold:
1) How can I keep track of what bonds have not yet reached their Final Maturity Date (face value, and maturity date) and
2) Once that is reached (or before that is reached), how do I record the redemption value and the interest earned and what you did with the funds
using Quicken Deluxe 2017 for Windows? - edited October 2018OK 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. See the IRS publication 550 which describe your choices on paying tax and who should be paying the tax.
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.
On the subject of transferring the information to a tax program. I made no attempt to get an automatic transfer to a tax program right. For me it was a simple matter of putting in the total interest (which is redemption value minus the price paid for the bond {note not the face value}).
To start you should create security per savings bond. If you put in the final maturity date, there is an investment report to report these dates. Note once a bond matures, it drops off of this list.
With the security created you need a manual entry brokerage account. Once created go into the account details and set it as tax deferred. Also in the account details go into Tax Schedule and set the Transfers out to: Schedule B:Int, inc, taxed only by fed.
Some people have suggested using the buy bonds action, but in truth all that does is enter a buy for the security using format for bond (100x), which doesn't really apply to savings bonds. It also lets you put in the accrued interest. But that in turn just put in another transaction, which you can just put in yourself.
So I just used the normal buy with something like: 1 share at $500 (EE bond bought at half face value). That gives the first part of this, the cost basis, and a security to record interest against, so that you can see the 'return' numbers. Also since in reality I got my bonds from relatives, I didn't want to put in where the cash came from (came from outside of Quicken). To do you just make the source of the cash the account you are in (not the cash balance). This basically makes it a balance adjustment.
For a savings bond it would be nice if there was a way to record the cost basis and then also show it increasing in value. There isn't any way to do that in Quicken and in fact the whole use of these investment actions are just a workaround. Not only is there no actions that I can find that behave exactly like that, on top of it even if you got it to work it would result in a capital gains, which this isn't. This is just interest.
So to record interest the action is just Inc:
Recording it against the security is what makes the return numbers work.
Since these bonds were older than I even had records in Quicken and I didn't want to lump all the interest into one spot, I actually back filled with one interest payment per year until I got to the current year, and then just recorded the interest as it changed in the Savings Bonds wizard.
Here is what it looks like in the portfolio.
Now for the sell, well you are just selling that one bond, and basically just puts the amount you paid back into the cash balance.
And you follow that with transfer of the full redemption value to whatever account get is.
This does present a bit of a problem if you are going to look at the Tax Planner or if you going to transfer the amount you need to pay tax on to a tax program, and that is it includes what you paid for the bond.
What did for that is in the Tax Planner I just put in an adjustment amount. And basically did the same thing in my tax program.
This certainly could be handled differently, like you could pay the taxes for the accumulated interest every year. Or in Quicken have the account set to tax able, and then not record the interest until the redemption date or final maturity date (which should be the earlier of the two). And if you do that then you wouldn't have the problem with the purchase amount being included. But you also wouldn't see the account growing in value. - edited October 2018BTW Another way to compensate for the transfer having the full amount of the bond value put into 'Schedule B:Int, inc, taxed only by fed' instead of an offset on the Tax Planner would be to put in a 'zero sum' split transaction that moves the purchase priced of the bond to another category.
The way you would do that is create an income category attached to 'Schedule B:Int, inc, taxed only by fed' and another not attached to a tax line. Then in the account that got the funds create a split that taxes money out of the category with the 'Schedule B:Int, inc, taxed only by fed' tax line, and puts it into the other category, which results in a transaction that has an overall amount of zero. - edited October 2018Thank you! You've obviously put a lot of thought and effort into figuring this out. Very much appreciate you sharing it. Let me go try this and see how it works. Thanks again.
- edited February 2017
Be sure to take a backup before you 'see how it works' .. just in case.Vlc video player for mac. Thank you! You've obviously put a lot of thought and effort into figuring this out. Very much appreciate you sharing it. Let me go try this and see how it works. Thanks again.
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