Quick tax question

Here I am using the spyware laden Turbo Tax to do my taxes and I came across a problem that I wasn’t sure how to handle and Turbo Tax couldn’t answer for me.

My wife cancelled a life insurance policy and got some cash from it. All I have is the top of the paper that the check was attached to. It says there that they didn’t withhold any income tax and we are responsible for reporting it on our taxes.

Where do I declare this income? Turbo Tax kind of directed me to the 1099-R form and is asking for the payer’s Fed ID and this is not included with the paper that I have. The insurance company did not send any other information or a formal 1099-R form. Is this right, or should I declare this somewhere else?

OK to start with it has been many many years since I was in the insurance business. Also IANAA. So YMMV.
With that said, IIRC it will depend on whether the policy was purchased with pre-tax or after tax dollars. If the policy was purchased with after tax dollars (say from your checking account) then the tax has been paid on the money. No tax will be due.
If on the other hand the policy was paid with pre-tax dollars (deffered compensation, pension, or key-person policy etc) then there would be a tax impact. I believe that the check from the company would be considered income. I have no clue as to what form it gets reported on.
You could call the insurance company and ask if they issued a 1099 to your wife, they might be able to give you an answer.

Once again I suggest that you contact a tax expert not a message board. I would hate to see you get audited for something one of us says.