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.Understanding Your Tax Forms. 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 plan to sell, transfer, or assign the assets of your business, you must give each prospective buyer a copy of Form TP-153, Notice to Prospective. IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060).