Enter the corporation name, federal employer identification number, Virginia account number, and number of related entities in the space provided. Asset Purchase Agreements (APAs) are essential documents for asset sales, but they're far more complex than a simple transaction.These instructions explain how to complete Schedule D (Form 1040). Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D. So when tangible personal property is part of an asset sale, the parties have to determine whether an exemption covers the asset sale. This ASSET PURCHASE AGREEMENT (this "Agreement") is dated as of September 5,. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity.