Form 8594, Asset Acquisition Statement Under Section 1060
Both the seller and purchaser of a group of assets that makes up a trade or business must use this form to report such a sale if:
- goodwill or going concern value attaches, or could attach, to such assets and
- the purchaser's basis in the assets is determined only by the amount paid for the assets.
Other Items You May Find Useful
Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ)
Publication 537, Installment Sales
Publication 542, Corporations
Publication 551, Basis of Assets
Comment on Form 8594
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