What is the form used for? :
- Seller and purchaser of a group of assets that make up a trade or business must use this form if; goodwill or going concern value attaches, or could attach, to such assets, and the purchaser's basis in the assets is determined only by the amount paid for the assets.
Is the form Supported in our program? Yes
How to access the form: To access the form, you will need to open a 1040/Business return on the online/desktop and then go to Add Form/Display and type 8594.
Limits to the form: The business variant of this form can only be accessed from the desktop software. This form can be copied.
Solution Articles:
8938 - Statement of Specified Foreign Financial Assets
4562 - Depreciation and Amortization
Entering Depreciation
IRS Publication: https://www.irs.gov/forms-pubs/about-form-8594
