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. Asset Purchase Agreement from INSIGNIA SYSTEMS INC filed with the Securities and Exchange Commission.This article offers guidance on helping clients take advantage selling personal goodwill as a tax strategy. For any amount allocated to goodwill (i.e. An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition.