StepbyStep Guide to Completing Form 8594. Step 1: Gather Documentation.1.1 Purchase of Acquired Assets; Assumption of Assumed Liabilities. (a) Purchase of Acquired Assets. A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions. Has entered into an Asset Purchase Agreement dated July 20, 1997 (the "Purchase. Agreement") pursuant to which Seller has agreed to sell certain assets to.