As a skater, Kohout was twice the Midwestern sectional senior ladies champion, and she won the bronze medal in the 1950 U.S. junior ladies championships. After turning professional, she was manager and head coach at the Wagon Wheel Ice Palace in Rockton, Illinois for 17 years. During that period, the Wagon Wheel rink—part of a larger resort complex—was one of the top figure skating training centers in the United States. Kohout coached not only Lynn but also 3-time U.S. champion Gordon McKellen, several other international competitors, and other skaters who have gone on to become prominent coaches or skating judges.
She was inducted into the United States Figure Skating Hall of Fame in 2002.
Kohout left Wagon Wheel when she married Dick Button in 1973. They had children Emily and Edward together, but have since divorced. In later years, Kohout continued to coach in the New York City area.