2 min. read
The tax code considers a business to be a collection of assets, and someone who offers a business for sale is trying to sell all of these assets together, from the IRS’ point of view.
Nevertheless, you may not want or need all of a business’ assets; you may want only the building, only the patient base, etc.
Form 8594 is a tax document that lists the purchase price and its allocation to the specific assets. Buyer and seller both file, and assets are classified as:
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