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.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. IRS Form 8594 defines seven asset classes to which the entire purchase price must be allocated. â–· Attach to your income tax return. IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). Item 2.01 Completion of Acquisition or Disposition of Assets.