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.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. Enter your name and taxpayer identification number (TIN) at the top of the form. Then check the box for Purchaser or Seller. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. The seller and the buyer each use Form 8594 to allocate the assets among seven asset categories. Allocation is based on the fair market value. Tax year and lax return form number wilh which the original Form 8594 and any supplemental stalements were filed.