I received a long-term Care Insurance buy-out of $21,244, do I need to report it and if so, where

You  should have received a tax document from the folks who paid you for the buyout.  

If you cash in an insurance policy you may have taxable income. The taxable income would be -

• the cash surrender value that you received (including any amount not received due to a loan on the policy), minus
• premiums paid over the life of the policy. On a mutual policy, premiums are net of participating dividends.

Generally, this only results in income on older policies. Your insurance company should send you a 1099-R  for the income to report.  

To enter this into TurboTax follow these instructions:

1. While in your Tax Home,
2. Select Search from the top right side of your screen,
3. Enter 1099-R,
4. Select Jump to 1099-R,
5. Follow the on-screen prompts to complete this section.