Membership units represent equity in an LLC. If you received the units and sold them for $125,000 then you have $125,000 in taxable gain. If you purchased the units by contributing to the LLC then you can deduct whatever amount you paid for the membership units when you sold them.
If you received the membership units and were not vested in them and then they were returned to the LLC when you left then you have no taxable gain. The units were never technically yours and you received no compensation from them.
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