I believe it's not from the date of the credit but from the original date of purchase, regardless of when the original date of flying was.

I understand if ticket was bought let's say on June 1 2016, regardless of when it was supposed to fly and when it was cancelled, the residual value minus the penalty has to be towards a ticket to fly within one year from the June 1.

this is from AA FAQ:

"Subject to certain restrictions and charges defined in the rules of the fare, the value of a wholly unused nonrefundable ticket may be used toward the purchase of a new ticket. Travel on such reissued tickets (or subsequently reissued tickets) must commence no later than one year from the date of issue of the original ticket."

https://www.aa.com/pubcontent/en_US/...ce/Refunds.jsp