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. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.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. Get answers to tax-related frequently asked questions including 1099, 5498 and other tax related forms. IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060).