Each year that there was a reduction in your capital account until it reached zero should have resulted in a deductible loss on your personal tax return.
At the point your capital account reached zero, you were no longer allowed current year deductions, your losses would be carried over until there were be positive income to offset the losses.
Upon the abandonment of the LLC, you are able to write off your carryover losses on Form 4797.
The Sale Price would be Zero. The Basis will be the remaining nondeducted loss amount
