Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041,. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Both the purchaser and seller are required to file Form 8594. – The Form 8594 must be attached to each filer's timely filed Federal income tax return. – Both the purchaser and seller are required to file Form 8594. Both parties are required to file Form 8594 alongside their respective tax returns to report the tax consequences of the asset acquisition accurately. The buyer and seller are then required to report the allocation on Form 8594. We generally recommend that buyers and sellers coordinate the filing of.