Buying or Selling a Business: Form 8594, Asset Acquisition Statement

Federal IRS Form 8594 is used to report the sale and purchase of assets that constitute a business.

See instructions to Form 8594.

Both the purchaser and seller must file Form 8594 with their own annual individual income tax return.

The Seller and Purchaser of a business report both total selling price of the business, as well as how the total selling price is allocated between 7 classes of assets.  This allocation is based on the fair market value of the assets in each class

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This webiste is created for sophisticated business owners and managers who understand that not all legal forms are the same.  The real cost of a poorly drafted “one-size fits all” legal form is not limited to its purchase price. We provide high quality legal documents as an alternative to office supply store quality legal forms offered by most legal forms suppliers, online and off. Our documents are drafted and reviewed by licenced, working, business attorneys. We are NOT a law firm and we are NOT your lawyers. But we provide sophisticated legal forms for many standard legal documents. While we

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