If you need to file or for more information on how to file, please call (714) 834-2930. 3. How do I submit my Business Listing Form?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. You will need to allocate the amount reflected on form 8594 among all the assets. A typical method is to allocate the proceeds based on the original cost. The tax implications of selling a business can vary significantly depending on the type of business entity. Here's a breakdown of the key differences. You will have to file at least the general rendition form.