7 Tax year and tax return form number with which the original Form 8594 and any supplemental statements were filed. 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 goodwill or going concern value.IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). StepbyStep Guide to Completing Form 8594. Step 1: Gather Documentation. For a particular class of assets, enter the total fair market value of all the assets in the class and the total allocation of the sales price. Gain from the sale of any capital asset not used in a trade or business.