[Code of Federal Regulations] [Title 26, Volume 4] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 26CFR1.356-5] [Page 235] TITLE 26--INTERNAL REVENUE CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) PART 1_INCOME TAXES--Table of Contents 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.