I'm trying to determine if I will need to complete IRS form 8594 - Asset Acquisition Statement Under Section 1060.
From the form instructions:
Purpose of Form
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.
In my case, it is all just standard office equipment. There is no possibility of goodwill being attached. The only thing that gives me pause is that every online resource I read makes blanket statements that if you sell business assets, you need to file both forms 4797 and 8594. Nobody makes reference to the need for goodwill to be attached to the assets, except the IRS in its instructions. I usually do take the IRS literally in situations like this though.
