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

Forum|Forum|6 years ago
June 4, 2019
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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?

TurboTax Premier Online

Best answer by Rick19744

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.

Rick19744Answer

Employee

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.

hlb0103

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.