My annuity contract states the the first distribution began on my wife's 65 birthday (11/04/1958) as I am 70. Payments are to continue annually on her 11/04 birthdate until her or my death since we have a joint suvivor annuity.
So as described above, we will receive periodic distributions (annually) on the 11/04 date which means Nationwide has to use the General Rule in calculating the exclusion % that applies to our initial investment of $100,000 back in 2011.
Please let me know if I am reading this right as I have a call coming from Nationwide tomorrow morning. I want to be prepared as much as possible for this call.
Thanks again. My wife and I really appreciate all your help!!!
