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. Find and download Nevada tax forms, including resources and guidelines to ensure accurate and timely filing with the Nevada Department of Taxation. Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor. The parties also agree to use such allocation among the Assets in completing and filing Internal Revenue Service Form 8594 for federal income tax purposes. For 2024, you will use Form 1040 or, if you were born before January 2, 1960, you have the option to use. â–· Attach to your income tax return. The amount of tax that you will ultimately have to pay depends upon whether the money you make from the sale is taxed as ordinary income or capital gains. Fill in and print frequently used tax forms.