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. Go to Screen 65, Asset Acquisition Statement (8594) (Screen 58 for S-Corp). Enter a 1 or 2 in the field 1=buyer, 2=seller (MANDATORY). Learn how to file form 8594 and when to file. Learn about Form 5471 filing requirements, who must file, and the penalties for noncompliance.