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.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. Below is a list of forms that you may download for free from our website. Did you buy or sell a business during the tax year? If so, you may need to file IRS Form 8594 with your federal tax return. This Asset Purchase Agreement (this "Agreement"), dated as of September 26, 2023, is entered into between KONA GOLD BEVERAGE, INC.