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. ▷ Attach to your income tax return.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. The target corporation must include the gain or loss on the deemed sale of assets in its adjusted income. See UC §59-7-114 for further details. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Best Time To Call. Comments. Caution: Forms printed from within Adobe Acrobat products may not meet IRS or state taxing agency specifications. When using Acrobat 9. Form 8594 is the Asset Acquisition Statement, which both the buyer and seller must complete and return to the IRS.