Use Form 8883 to report information about transactions involving the deemed sale of corporate assets under section 338. The sum of the amounts allocated to Classes IV and V are reported in the aggregate on Form 8594.See Appendix A; see also T.D. 8711 (Jan. The IRS recently launched a program to match the filing of Form 8023, Elections Under Section 338 for Corporations Making Qualified Stock Purchases. 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. Attachment B is the new Form 8883. Since the Form 8883 is designed for asset purchases under Sec. 338, it may require slight modifications to report the QSD information. Unless Seller elects the installment method or is eligible for the "open transaction" method, Seller must use the "closed transaction" method.