Withdrawing RRSP Overcontribution
I overcontributed to my RRSP by about $8,000 last month (stupid mistake, I know.) I assume that at the very least I'm going to have to eat the 1% penalty for the month the overcontribution was in there. If I withdraw the money, will it be counted as income this year or last year? What's the best way to avoid having to pay anything beyond the 1% penalty?