Form 8594 at a glance
What it is: Form 8594 is the Asset Acquisition Statement Under Section 1060.
Where and when to file: Attach to your income tax return. Generally, attach Form 8594 to your income tax return for the year in which the sale date occurred.[2]
"Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041, 1065, 1120, 1120-S, etc.) when there is a transfer of a group of assets that makes up a trade or business (defined below) and the purchaser's basis in such assets is determined wholly by the amount paid for the assets."[2]
A filled-in Form 8594 example: a purchaser reports a business purchase
How to fill out Form 8594, box by box
Your name, identifying number and Purchaser or Seller
Enter your name and taxpayer identification number (TIN) at the top of the form.
Enter the Name as shown on return and the Identifying number as shown on return.
Check the box that identifies you: Purchaser or Seller.[2]
Part I General Information
On line 1, enter the Name of other party to the transaction, the Other party's identifying number, the Address (number, street, and room or suite no.) and the City or town, state, and ZIP code.
Enter the name, address, and TIN of the other party to the transaction (purchaser or seller).
You are required to enter the TIN of the other party.
If the other party is an individual or sole proprietor, enter the social security number.
If the other party is a corporation, partnership, or other entity, enter the employer identification number.
On line 2, enter the Date of sale. On line 3, enter the Total sales price (consideration).[2]
Part II line 4 Assets and allocation of sales price
On line 4, for each of Class I, Class II, Class III, Class IV, Class V, and Class VI and VII, enter the Aggregate fair market value (actual amount for Class I) and the Allocation of sales price. Then enter the Total of each.
Part II lines 5 and 6 Allocation and license or covenant
On line 5, check Yes or No: did 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? Check Yes or No.
On line 6, check Yes or No: in 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.
Part III Supplemental Statement
On page 2 of Form 8594 (Rev. 11-2021), 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.
On line 7, enter the Tax year and tax return form number with which the original Form 8594 and any supplemental statements were filed.
On line 8, for each of Class I, Class II, Class III, Class IV, Class V, and Class VI and VII, enter the Allocation of sales price as previously reported, the Increase or (decrease) and the Redetermined allocation of sales price.
On line 9, enter the Reason(s) for increase or decrease. Attach additional sheets if more space is needed.
Common questions about Form 8594
Is there a deadline?
Generally, attach Form 8594 to your income tax return for the year in which the sale date occurred.[2]
Where do I file it?
Attach to your income tax return.
Sources
[1] Form 8594 (Rev. November 2021), Asset Acquisition Statement Under Section 1060, Department of the Treasury Internal Revenue Service (the Official source link on this page).
[2] irs.gov, line_name_doc_enter_name_tin. Accessed November 1, 2026.