### Question
What is the definition of assumed liabilities?


### Answer
The definition of **assumed liabilities** is as follows in *26 U.S.C. § 584*:

> any liability of the common trust fund assumed by any regulated investment company in connection with the transfer referred to in paragraph (1)(A)

#### Citation:
  - *26 U.S.C. § 584*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter H-Banking Institutions > PART I-RULES OF GENERAL APPLICA-**

