Quick TFSA transfer question
Just a quick Q - let's say my TFSA contribution limit is 10,000 and I have an account at X bank that grew to 10,500 in it. If I transfer that entire amount to another bank via a TFSA transfer form, will I have over-contributed by $500? Should I just transfer $10,000 and leave $500 in the existing TFSA account to avoid getting taxed, if the $500 is considered an over-contribution?
Thanks,
Thanks,