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. 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.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Did you buy or sell a business during the tax year? If so, you may need to file IRS Form 8594 with your federal tax return. As a rule, the starting point for your Arizona return is your federal adjusted gross income. Enter your name and taxpayer identification number (TIN) at the top of the form. Then check the box for Purchaser or Seller. 1. Gather necessary documentation for the asset sale. Each year, the Arizona State Legislature considers if it will adopt changes made to the federal tax laws in the prior year.