Question
Installment sale and reporting and form 8594
On form 8594 which reflects the asset sale of part of a corporation (one of the corporate stores) do I reflect the buyer's assumption of the notes payable which were attached to the equipment the buyer purchased, the sales taxes due for the prior month assumed by the buyer and the sale of the accounts receivable. 8594 only asks for the value of the assets sold by class. Do assumed debt go into this schedule?
