"This was a normal distribution paid early in the year before the sale/transfer agreement was prepared."

It's pretty hard to follow without the paperwork, but it seems all of these people bought out each other by swapping "shares of some value in other entities," because you don't get bought out with distributions. A true buyout would entail valuing the business, and then paying each other for their share(s), which means gain or loss on the sale(s). And, of course, knowing if this is entity sales or asset/liability sales.

It's like they had a big swap meet.