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    Asset Acquisition Statement: Under Section 1060

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    IRS
    This document is an IRS Form 8594, which is used to report the allocation of sales price between assets acquired in an asset purchase transaction under Section 1060 of the Internal Revenue Code. The form requires the purchaser or seller to provide details of the asset classes transferred, their aggregate fair market values, and the allocation of sales price between each class. It also asks whether the purchaser and seller agreed to an allocation in their sales contract and whether any other related agreements like employment contracts were also part of the transaction.

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    Asset Acquisition Statement: Under Section 1060

    Uploaded by

    IRS
    80 views2 pages
    This document is an IRS Form 8594, which is used to report the allocation of sales price between assets acquired in an asset purchase transaction under Section 1060 of the Internal Revenue Code. The form requires the purchaser or seller to provide details of the asset classes transferred, their aggregate fair market values, and the allocation of sales price between each class. It also asks whether the purchaser and seller agreed to an allocation in their sales contract and whether any other related agreements like employment contracts were also part of the transaction.

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    This document is an IRS Form 8594, which is used to report the allocation of sales price between assets acquired in an asset purchase transaction under Section 1060 of the Internal Revenue Code. The form requires the purchaser or seller to provide details of the asset classes transferred, their aggregate fair market values, and the allocation of sales price between each class. It also asks whether the purchaser and seller agreed to an allocation in their sales contract and whether any other related agreements like employment contracts were also part of the transaction.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    80 views2 pages

    Asset Acquisition Statement: Under Section 1060

    Uploaded by

    IRS
    This document is an IRS Form 8594, which is used to report the allocation of sales price between assets acquired in an asset purchase transaction under Section 1060 of the Internal Revenue Code. The form requires the purchaser or seller to provide details of the asset classes transferred, their aggregate fair market values, and the allocation of sales price between each class. It also asks whether the purchaser and seller agreed to an allocation in their sales contract and whether any other related agreements like employment contracts were also part of the transaction.

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    2

    TLS, have you I.R.S. SPECIFICATIONS TO BE REMOVED BEFORE PRINTING


    transmitted all R Action Date Signature
    text files for this INSTRUCTIONS TO PRINTERS
    cycle update? FORM 8594, PAGE 1 of 2
    MARGINS: TOP 1⁄2", CENTER SIDES. PRINTS: HEAD TO HEAD O.K. to print
    PAPER: WHITE WRITING, SUB. 20. INK: BLACK
    FLAT SIZE: 17" x 11"
    Date FOLD TO: 8 1⁄2" x 11" PERFORATE: (ON FOLD) Revised proofs
    DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT requested

    Form 8594
    (Rev. February 2006)
    Asset Acquisition Statement
    Under Section 1060
    OMB No. 1545-1021

    Department of the Treasury Attachment


    䊳 Attach to your income tax return. 䊳 See separate instructions.
    Internal Revenue Service Sequence No. 61
    Name as shown on return Identifying number as shown on return

    Check the box that identifies you:


    Purchaser Seller
    Part I General Information
    1 Name of other party to the transaction Other party’s identifying number

    Address (number, street, and room or suite no.)

    City or town, state, and ZIP code

    2 Date of sale 3 Total sales price (consideration)

    Part II Original Statement of Assets Transferred


    4 Assets Aggregate fair market value (actual amount for Class I) Allocation of sales price

    Class I $ $

    Class II $ $

    Class III $ $

    Class IV $ $

    Class V $ $

    Class VI and VII $ $

    Total $ $
    5 Did the purchaser and seller provide for an allocation of the sales price in the sales contract or in another
    written document signed by both parties? Yes No
    If “Yes,” are the aggregate fair market values (FMV) listed for each of asset Classes I, II, III, IV, V, VI, and
    VII the amounts agreed upon in your sales contract or in a separate written document? Yes No

    6 In the purchase of the group of assets (or stock), did the purchaser also purchase a license or a covenant
    not to compete, or enter into a lease agreement, employment contract, management contract, or similar
    arrangement with the seller (or managers, directors, owners, or employees of the seller)? Yes No

    If “Yes,” attach a schedule that specifies (a) the type of agreement and (b) the maximum amount of
    consideration (not including interest) paid or to be paid under the agreement. See instructions.
    For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 63768Z Form 8594 (Rev. 2-2006)
    2
    I.R.S. SPECIFICATIONS TO BE REMOVED BEFORE PRINTING
    INSTRUCTIONS TO PRINTERS
    FORM 8594, PAGE 2 of 2
    MARGINS: TOP 1⁄2", CENTER SIDES. PRINTS: HEAD TO HEAD
    PAPER: WHITE WRITING, SUB. 20. INK: BLACK
    FLAT SIZE: 17" x 11" FOLD TO: 8 1⁄2" x 11"
    PERFORATE: (ON FOLD)
    DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

    Form 8594 (Rev. 2-2006) 2 Page


    Part III Supplemental Statement—Complete only if amending an original statement or previously filed
    supplemental statement because of an increase or decrease in consideration. See instructions.
    7 Tax year and tax return form number with which the original Form 8594 and any supplemental statements were filed.

    8 Assets Allocation of sales price as previously reported Increase or (decrease) Redetermined allocation of sales price

    Class I $ $ $

    Class II $ $ $

    Class III $ $ $

    Class IV $ $ $

    Class V $ $ $

    Class VI and VII $ $ $

    Total $ $
    9 Reason(s) for increase or decrease. Attach additional sheets if more space is needed.

    Form 8594 (Rev. 2-2006)

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