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. The purpose of Form 8594 is to determine the treatment of the assets for tax purposes, establish the basis of the acquired assets for the purchaser.Learn how to file form 8594 and when to file. The different asset classes are presented on Form 8594, Asset Acquisition Statement Under Section 1060. Caution must be exercised as both the buyer and the seller will be required to complete IRS Form 8594, Asset Acquisition Statement.