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. Detailed Instructions for Filling Out Form 8594: Asset Acquisition Statement Clauses.An applicable asset acquisition is any transfer of assets constituting a trade or business if the purchaser's basis in the acquired assets is. Download forms and instructions for all Utah tax types. • Link to free business resources and other services. Did you buy or sell a business during the tax year? If so, you may need to file IRS Form 8594 with your federal tax return. The Form 8594 accounted for only five classes of assets. See. Attachment A (revised Form 8594). 6.