hi again Angelfaery,
i'm going to give you the directions off my amaryllis box, as i'm sure the info would apply...
growing care:
plant bulb pointed end up, top just above the soil surface. place in warm room(70-75F). Avoid direct sunlight. keep soil moist. water more frequently as leaves grow and flowers open. turn plant when stemas lean toward light. support top-heavy plant with stakes or small stones at the base. flowers will lastlonger if plant is moved to a cooler place at night(45-55F).
aftercare:
after flowering, water and fertilize regularly. when leaves start turning yellow, water only as needed until foliage dies. maintain amaryllis indoors, or bury pot in semi-shade outside when frost danger has passed. dig up just before first frost. let dormant amaryllis remain dry through summer. cut off dry, yellowed foliage just above bulb. repot every 2-3 years.
my guess would be to wait to plant the bulb until it has finished it's cycle. the plant has all the nutrients it needs in the bulb, so i think changing the medium now might stress it out. i think you can use the water method again next year, but obviously it would get bigger in the soil. just make sure to give it plenty of water.
i wish i knew what kind of bulb it is. if it was a gladiola, you could plant it outside and in the summer you would have these gorgeous and tall flowers, that would most likely propagate. but i'm not positive, sorry. hope this helps, sorry so long!