Get your taxes done using TurboTax

While your initial facts are brief, I will provide some thoughts:

1. To respond to your question, your sales price is your liquidating distribution.
2. TT will also ask you some other questions:
   1. Your cost - this will be your tax basis in the LLC so hopefully you know what this is.  If not, you will need to determine this.
   2. Hopefully your K-1 provides what your share of any Section 1250 gain is
   3. I would also assume that there was some Section 1245 property as well.  TT will also ask if you have any Section 751 gain.  This is what is known as "hot assets" (which includes depreciation recapture on Section 1245 property).  The K-1 should technically provide your share of this gain as well, although it is a 50/50 bet as to whether or not this is provided.
   4. The Section 751 gain is a recharacterization of your total gain / loss.  This represents the portion of your overall gain / loss that is ordinary income.
3. Make sure you indicate that this was a complete disposition, as if you have any suspended losses, TT will "free" those up as well.
4. Depending on your facts and $$ involved, you may want to consider meeting with a tax professional to determine your overall gain / loss and application of any Section 751 recharacterization.