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:. Detailed Instructions for Filling Out Form 8594: Asset Acquisition Statement Clauses.When selling your business, you'll need to decide between an asset sale or a stock sale. It's important to understand how asset sales work. General Bill of Sale – This form would usually be used to provide proof of sale and purchase between two private parties in the sale of personal items. This document allows for the purchase of assets or stock of a corporation. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer.