Portal for filling out and submitting Business Personal Property Listings and Extensions. Taxscribe tutorial .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. The 2024 business personal property listing form and instructions is for any individual(s) or business(es) owning or possessing personal property. Use Form 4797 to report: The sale or exchange of property. The involuntary conversion of property and capital assets. 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. Looking for local rules and forms? 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.