How to count HSA deposit as income

fredct

I have my HSA which gets a regular deposit as a payroll deduction. Although not usually the case for most brokerage deposits, THIS brokerage account deposit is really income.

However it doesn’t show up in my “all transactions” list. If I go to Accounts → HSA → Transactions, then it shows them as part of the account transactions, but there’s no way to categorize it as income. The only category choices are expenses.

Theres a “type” field which allows me to say it’s investment income, but then it forces me to pick which investment it came from. Even if I do that and make one up, it still doesn’t show up under my income report.

How can I get this payroll deposit to my HSA to be counted under income?

DannyB

@fredct

You'll need someone with more experience with the investment type accounts and/or one of the coaches. @Coach Natalie monitors this forum and can probably give you more help and insight.

My best guess is that you will have to classify these deposits as just that by selecting "Payment/Deposit" in the Action field. You won't be able to designate these deposits as "income" from the investment register. As you already discovered, using the available "income" actions don't work for because those "income" actions refer to actual income within the investment account and related to your investments and not "income," that is deposits, from outside sources.

To designate these funds as income it seems to me that you would have to do that via your actual paycheck deposit into your checking (or whatever cash account you use) using the split transaction feature. I'm not sure if or how that would work, but if it did work it would be something along these lines:

https://help.simplifimoney.com/en/articles/5983781-how-to-track-pre-deposit-paycheck-deductions

I don't see why you couldn't add a split for the amount of the funds that go into your HSA and categorize it Transfer>HSA where HSA is your connected or manual investment account in q-Simplifi.

Coach Kristina

Hello @fredct,

Investment transactions are hidden from the Spending Plan and from Reports by default. Have you tried editing the investment transaction and unchecking the box to exclude from reports? Click this link for instructions on editing investment transactions, or use this link if you're using the Mobile app.

Once you've unchecked that box, you should be able to see it reflecting in your reports.

I hope this helps!