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.The tax professional who comes into contact with such a situation should consider the need to file Form 8594, or to revise the valuation of specific assets. 1. Gather necessary documentation for the asset sale. I was told to fill out form 8594 this year buy the purchase of my business. They said they need to match so it doesnt throw any red flags. The purpose of Form 8594 is to determine the treatment of the assets for tax purposes, establish the basis of the acquired assets for the purchaser.