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fit1
Level 1

8594 asset acquisition statement - I sold a rental property last year in January, 2018. Do I need to file 8594?

I am doing my final return on my rental LLC.  It asked whether I need to file a 8594? Is this required for a rental business?  

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8594 asset acquisition statement - I sold a rental property last year in January, 2018. Do I need to file 8594?

No.  You just sold a single property.

Form 8594 is geared for asset acquisitions that essentially acquire the assets of a trade or business in which goodwill or other Section 197 intangible assets could be a part of the transaction.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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3 Replies

8594 asset acquisition statement - I sold a rental property last year in January, 2018. Do I need to file 8594?

No.  You just sold a single property.

Form 8594 is geared for asset acquisitions that essentially acquire the assets of a trade or business in which goodwill or other Section 197 intangible assets could be a part of the transaction.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

8594 asset acquisition statement - I sold a rental property last year in January, 2018. Do I need to file 8594?

Are you sure about this answer? What about the sale of an apartment building where you have a laundry room with washers and dryers, apartments where you provide a fridge, dishwasher, AC, etc. These aren't single asset sales.  I don't want to file it but seems like its necessary especially if I, as a buyer, want to do a cost seg survey.

PaulaM
Employee Tax Expert

8594 asset acquisition statement - I sold a rental property last year in January, 2018. Do I need to file 8594?

You've posted on an old thread @hlb0103. Please post a new question so that we can assist you. 

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