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<< Why Schedule D? Why not line 21 on 1040? The gain will be ordinary income. (He'll get a 1099-Misc from the insurance company)>>

Well, we're both wrong. I could swear I've seen these on a 1099-B, but maybe I'm just having one of my episodes.

According to Pub 17, it will be reported on a 1099-R and listed on line 16 of the 1040. Thanks for catching the error.

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