26 CFR § 1.358-5 - Special rules for assumption of liabilities.

---
identifier: "/us/cfr/t26/s1.358-5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "26 CFR § 1.358-5 - Special rules for assumption of liabilities."
title_number: 26
title_name: "Internal Revenue"
section_number: "1.358-5"
section_name: "Special rules for assumption of liabilities."
chapter_name: "INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "INCOME TAX"
part_number: "1"
part_name: "INCOME TAXES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "26 U.S.C. 7805, unless otherwise noted."
regulatory_source: "T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 21, 1960; T.D. 9989, 89 FR 17606, Mar. 11, 2024, unless otherwise noted."
cfr_part: "1"
---


# 1.358-5 Special rules for assumption of liabilities.

(a) *In general.* Section 358(h)(2)(B) does not apply to an exchange occurring on or after May 9, 2008.

(b) *Effective/Applicability date.* For exchanges occurring on or after June 24, 2003, and before May 9, 2008, see § 1.358-5T as contained in 26 CFR part 1 in effect on April 1, 2007.

[T.D. 9397, 73 FR 26322, May 9, 2008]