Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form. 8594 because of an increase or decrease.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. The form lays out the Section 1060 allocation for the transaction. The firstyear amortization deduction will be prorated based on the time of year the transaction occurred. IRS Form 8594 only requires a breakdown of asset value into seven categories, designated as "Classes I through VII. Seller and Purchaser agree to file all information reports and tax returns in a manner consistent with the purchase price allocation set forth on Schedule 1.