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. 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. The Internal Revenue Service has a form that outlines the allocation of the purchase price known as Form 8594, Asset Acquisition Statement. This form may be obtained from and must be filed with the Auditor of the County in which the property is located. Corporations having no taxable personal. Both buyer and seller are supposed to attach this form to their respective tax returns in the year of sale.