Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041,. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Who Must File Form 8594? Both the seller and purchaser of a group of assets that make up a trade or business need to file Form 8594. Both the purchaser and seller are required to file Form 8594. The different asset classes are presented on Form 8594, Asset Acquisition Statement Under Section 1060. Seller and Purchaser agree to file all information reports and tax returns in a manner consistent with the purchase price allocation set forth on Schedule 1.