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. 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 is an Internal Revenue Service (IRS) form that provides a structured way to allocate the purchase price of a business among different asset classes. IRS Form 8594 only requires a breakdown of asset value into seven categories, designated as "Classes I through VII. 1. Gather necessary documentation for the asset sale. This Annual Report on Form 10K includes forwardlooking statements within the meaning of Section 27A of the.