Should the total business acquisition price be included on the allocation of fair market value? for the form 8594

[SabrinaD2]

Yes, generally the total business acquisition should be included in the allocation of fair market value on Form 8594. This form is used to report the sale of a group of assets that make up a trade or business, and the allocation of the purchase price among these assets  is normally based on their fair market values

For more details, you can refer to the IRS instructions for Form 8594 and this guide on completing Form 8594.