Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041,. Both the purchaser and seller are required to file Form. 8594. (2).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. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Kevin would file a Form 8594 outlining the allocation of purchase price amongst the assets purchased.