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. You will need to allocate the amount reflected on form 8594 among all the assets.A typical method is to allocate the proceeds based on the original cost. It is intended to be a short and simple informational statement about basic forms and requirements. Use Form 4797 to report: The sale or exchange of property. The involuntary conversion of property and capital assets. Here you can find all the forms and fees needed for filing and searching business registrations. There are different forms used for each business type.