If your LLC is a construction business, i.e., you build houses under contract (or spec) and sell them, that is "property held primarily for sale to customers in the ordinary course of your trade or business". The sale of that type of property is not reported on Form 4797. The sales proceeds are income, and the cost of the house is a deduction, and the difference is ordinary income.
See IRS Publication 3780 at this link for information on accounting methods for small construction businesses. You probably are eligible to use the "completed contract" method for construction, under which you would report income and deduct all your expenses in the year a house is sold.
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