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Business & farm
As noted by TT PatriciaV, any gain or loss on the termination of the LLC is determined at the member level. Each member should be maintaining a schedule of their basis in their LLC investment. This begins with the original contribution and is adjusted annually for the applicable lines on their K-1.
Once your basis is adjusted for the applicable lines on the final K-1 and you adjust the basis for the final liquidating distribution, you can then determine if you have a gain or loss.
If you still have remaining basis after adjustments noted above, then you have a capital loss.
If the final liquidating distribution causes your basis to go "negative", then you have a capital gain to the extent of this negative; essentially the gain gets the basis back to zero.
See the link for some discussion on basis. Hopefully you did not use liabilities to take losses as this will complicate the matter and that discussion would be beyond the forum discussion.
https://www.irs.gov/instructions/i1065sk1/ch01.html
Also keep in mind the date of replies, as tax law changes.