Do I get a K-1 statement if I sold the totality of my ownership &?
The first thing you should do is check what you Operating Agreement states about the allocation of profits and losses when a Member sells or otherwise transfers their ownership during the applicable calendar or fiscal year. Generally, most operating agreements will allocate the profits and losses to each partner, pro rated by the number of days that each partner held the interest. As other responses have noted, in such case, you will receive a Final K-1 reflecting your profits and losses for the applicable time period.