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. This form provides the IRS with a detailed breakdown of how the purchase price is allocated across different asset categories.A seller must give all prospective purchasers Form TP153, Notice to Prospective Purchasers of a Business or Business Assets. A Foreign Vendor Questionnaire must be submitted with one of the IRS W-8 forms listed below. IRS Form W8-BEN and Instructions. Use Form 8949 to report sales and exchanges of capital assets. You must record all property documents for Queens, Brooklyn, Manhattan and the Bronx online using the ACRIS System.