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. 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 if goodwill or going concern value.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. If an asset sale is subject to IRC Section 1060, the parties must file IRS.