In your Example for Mary:
If Mary has done a rollover of 1,000 between the contribution date and the " removal date", how is AOB and ACB calculated? Assume the final balance is still 18000 including the 1000 rollover amount (investment gain is 2000)
AOB = 15000+ 1000 =16000
ACB = 18000 (no change?):
NI: 1000x (18000-16000)/16000 = 125
1) Is NI and ACB correct ?
2) When the withdraw is done in early 2019 for 2018 excessive contribution, would the NI be reported in Tax Year 2018 (initial filing /amended return) or make life simple - report it in Tax Year 2019 ( as the year the NI was withdrew).
