Use Form 8883 to report information about transactions involving the deemed sale of corporate assets under section 338. 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.Unless Seller elects the installment method or is eligible for the "open transaction" method, Seller must use the "closed transaction" method. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.