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Tax World
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Asset Acquisition Statement Under Section 1060. Form 8594
Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale if goodwill or going concern value attaches, or could attach, to such assets and if the purchaser's basis in the assets is determined only by the amount paid for the assets.
Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form 8594 because of an increase or decrease in the purchaser's cost of the assets or the amount realized by the seller.
"The buyers and sellers of a group of assets that make up a business use Form 8594 when goodwill or going concern value attaches." DOWNLOAD Form 8594 This form may be downloaded directly from the IRS website. To open or download, in PDF format, simply click on the link below: Form 8594
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