Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.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 an Internal Revenue Service (IRS) form that provides a structured way to allocate the purchase price of a business among different asset classes. As a rule, the starting point for your Arizona return is your federal adjusted gross income. – 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.