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Sec. 1.356-5 Transactions involving gift or compensation.

With respect to transactions described in sections 354, 355, or 356, but which--

(a) Result in a gift, see section 2501 and following, and the regulations pertaining thereto, or

(b) Have the effect of the payment of compensation, see section 61(a)(1), and the regulations pertaining thereto.

[Adopted by T.D. 6152, 20 FR 8875, Dec. 3, 1955; republished by T.D. 6500, 25 FR 11607, Nov. 26, 1960.]

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