we can't see the books and records of the LLC. however, first, the LLC would recognize ordinary income on the sale of its assets up to the amount of depreciation taken or ordinary income recapture if the item was expensed. there would be an ordinary loss if the asset was sold for less than its tax basis. the LLC would have capital gain to the extent an asset was sold for more than its original tax basis. both the ordinary income/loss and capital gain add to (in the case of net income) or subtract from (in the case of a net loss) the members' basis. they have a capital gain if the distributions exceeded their tax basis otherwise a loss.
in many situations, (no new members after it started and no special allocations of income or loss not in accordance with ownership %). proper tax reporting by the LLC and members their tax basis would equal the distributions so no gain or loss other than what's on their k-1.
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if things have not been equal or a partner/member contributed an asset other than cash, you may be required to do a corrective allocation/minimum gain chargeback under subsections of IRS reg 1.704-2
