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Seller of an unincorporated (Sch C) business is selling to 2 buyers. They have not formed a partnership and therefore do not have a common tax id.
When completing form 8594, do we file 2 forms, one for each buyer, with the sales price and all allocations split 50/50 (assuming buyers are 50/50 partners)?
When completing form 8594, do we file 2 forms, one for each buyer, with the sales price and all allocations split 50/50 (assuming buyers are 50/50 partners)?