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. 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.Learn about Form 8594 and its importance in buying or selling an insurance agency. Similarly, the buyer must allocate the purchase price among the acquired assets for purposes of determining the basis of each asset. At the core of PPA is IRS Form 8594, also known as the Asset Acquisition Statement.