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 walkthrough (Asset Acquisition Statement under IRC Section 1060).Instructions for Form 8594, asset acquisition statement under section 1060 Available Online. Actions. Print. Citation. Unravel the complexities of Form 5471 instructions with our comprehensive guide.