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. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.If you find a lien, you may use Form C50, Notice of Business Transfer, or send a copy of the lien along with related purchase agreement pages. Asset Sales A to Z: Drafting the Purchase Agreement. 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. If you don't have a Minnesota tax.