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.Learn how to file form 8594 and when to file. The tax professional who comes into contact with such a situation should consider the need to file Form 8594, or to revise the valuation of specific assets. IRS Form 8594 defines seven asset classes to which the entire purchase price must be allocated. Line 1: The opposite party's name, address, and TIN (purchaser or seller). You must input the other party's TIN.