In general, the sale of the assets will be reported on the LLC return, which then as you know, is reported on the K-1 which each member will receive.
There are also issues related to the timing of the installment sale and the liquidation of the LLC. This is another reason to consult with a tax professional where you can have a one on one discussion of all the facts.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
