The return should include the tax due from business operations to the last day of business, as well as any tax collected on assets that you sell. 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.This article offers guidance on helping clients take advantage selling personal goodwill as a tax strategy. IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). Question: King wanted to purchase the business but explained that he could not afford to pay the entire amount in cash.