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. 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.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. When buying the assets of a business, some are subject to sales or use tax, while others are not. Items subject to retail sales tax. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price. Access IRS forms, instructions and publications in electronic and print media. All taxpayers must electronically file their capital gains excise tax returns, along with a copy of their federal tax return and all required documentation. About Form 1099S, Proceeds from Real Estate Transactions. More In Forms and Instructions.