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 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form.8594 because of an increase or decrease. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. The most common type of business sale is when an entity sells its business assets. San Diego, CA 92128-3434, 1-. â–¶ Attach to your income tax return. (Note: this class is offered in Spanish in San Diego and Orlando only. This allocation is documented on IRS Form 8594.