Form 8594 PDF Details

Form 8594 is used to report the sale or exchange of a United States real property interest and must be filed with your federal income tax return. This form is used to figure and report any gain or loss from the sale or exchange. The instructions for Form 8594 can be complex, so it's important to understand how to complete this form correctly. Here are some key things you need to know before filing Form 8594. 1. What is a United States real property interest? 2. How do I calculate my gain or loss? 3. When is the deadline to file Form 8594? 4. What are the penalties for not filing on time? 5. Can I get an extension to file my return? 6. What else do I need to know about Form 8594? 7. Where can I find more information about completing this form?

QuestionAnswer
Form NameForm 8594
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names Form 8594 (Rev. November 2021). Asset Acquisition Statement Under Section 1060

Form Preview Example

Form 8594

 

Asset Acquisition Statement

OMB No. 1545-0074

 

 

 

 

 

 

 

 

Under Section 1060

 

(Rev. November 2021)

 

▶ Attach to your income tax return.

Attachment

Department of the Treasury

 

 

▶ Go to WWW.IRS.GOV/FORM8594 for instructions and the latest information.

Sequence No. 169

Internal Revenue Service

 

 

Name as shown on return

 

 

Identifying number as shown on return

 

 

 

 

 

 

 

 

 

 

Check the box that identifies you:

 

 

 

 

 

Purchaser

 

Seller

 

 

 

 

 

 

 

 

 

 

 

Part I

General Information

 

 

 

 

1 Name of other party to the transaction

 

 

Other party’s identifying number

 

 

 

 

 

 

 

 

 

Address (number, street, and room or suite no.)

 

 

 

 

 

 

 

 

 

 

 

 

 

City or town, state, and ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

2

Date of sale

 

 

 

3 Total sales price (consideration)

 

 

 

 

 

 

 

 

Part II

Original Statement of Assets Transferred

 

 

 

 

4

Assets

 

Aggregate fair market value (actual amount for Class I)

 

 

Allocation of sales price

 

 

 

 

 

 

 

 

Class I

$

 

 

 

$

 

 

Class II

$

 

 

 

$

 

 

Class III

$

 

 

 

$

 

 

Class IV

$

 

 

 

$

 

 

Class V

$

 

 

 

$

 

 

Class VI and VII

$

 

 

 

$

 

 

Total

 

 

$

 

 

 

$

 

 

5Did the purchaser and seller provide for an allocation of the sales price in the sales contract or in another

written document signed by both parties? . . . . . . . . . . . . . . . . . . . . .

If “Yes,” are the aggregate fair market values (FMV) listed for each of asset Classes I, II, III, IV, V, VI, and VII the amounts agreed upon in your sales contract or in a separate written document? . . . . . . . .

Yes

Yes

No

No

6In the purchase of the group of assets (or stock), did the purchaser also purchase a license or a covenant

not to compete, or enter into a lease agreement, employment contract, management contract, or similar arrangement with the seller (or managers, directors, owners, or employees of the seller)? . . . . . .

If “Yes,” attach a statement that specifies (a) the type of agreement and (b) the maximum amount of consideration (not including interest) paid or to be paid under the agreement. See instructions.

Yes

No

For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 63768Z

Form 8594 (Rev. 11-2021)

Form 8594 (Rev. 11-2021)

Page 2

Part III Supplemental Statement—Complete only if amending an original statement or previously filed supplemental statement because of an increase or decrease in consideration. See instructions.

7Tax year and tax return form number with which the original Form 8594 and any supplemental statements were filed.

8

Assets

 

Allocation of sales price as previously reported

Increase or (decrease)

Redetermined allocation of sales price

 

 

 

 

 

 

Class I

 

$

 

$

$

Class II

 

$

 

$

$

Class III

$

 

$

$

Class IV

$

 

$

$

Class V

$

 

$

$

Class VI and VII

$

 

$

$

Total

 

$

 

 

$

9Reason(s) for increase or decrease. Attach additional sheets if more space is needed.

Form 8594 (Rev. 11-2021)

How to Edit Form 8594 Online for Free

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Step 1: Just hit the "Get Form Button" above on this site to see our pdf editing tool. There you'll find everything that is needed to fill out your file.

Step 2: As you launch the file editor, you will see the document prepared to be filled out. Other than filling out different fields, you can also do several other actions with the PDF, including writing any textual content, changing the initial text, inserting graphics, placing your signature to the document, and more.

This document will involve some specific information; in order to ensure accuracy, you need to take note of the next tips:

1. It's important to complete the Form 8594 accurately, therefore pay close attention while filling out the sections comprising all these blank fields:

Form 8594 completion process explained (portion 1)

2. Soon after this selection of fields is completed, go on to enter the suitable information in all these - Class V, Class VI and VII, Total, Did the purchaser and seller, If Yes are the aggregate fair, In the purchase of the group of, Yes, Yes, Yes, If Yes attach a statement that, For Paperwork Reduction Act Notice, Cat No Z, and Form Rev.

The way to complete Form 8594 part 2

3. This next stage is going to be straightforward - complete all of the form fields in Tax year and tax return form, Assets, Allocation of sales price as, Increase or decrease, Redetermined allocation of sales, Class I, Class II, Class III, Class IV, Class V, Class VI and VII, Total, and Reasons for increase or decrease to complete this segment.

Form 8594 writing process explained (stage 3)

4. This fourth subsection comes next with all of the following fields to focus on: .

Step no. 4 for submitting Form 8594

You can certainly make a mistake when filling out your this field, for that reason ensure that you go through it again before you'll finalize the form.

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