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. Business Personal Property deals with the physical assets used in the operation of the business.Consult the table in the following section for a list of specific assets typically categorized as real or personal property. This Drake Tax article discusses the sale of an asset used for personal and business use. All forms are fillable. You can fill it out in Reader and print it from there. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.