Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041, 1065, 1120, 1120-S, etc.)The buyer must also file Form 8594 for the transaction. Form 8594 is the Asset Acquisition Statement, which the buyer and seller must complete and submit to the IRS. Included as part of intangibles that we purchased is key personnel valued at 300K. Attach it to the 1040 you file for the year in which the asset sales occurred.