going with the 275/50 26" tall there usually isnt any issue , the 275/60 28 tall thats another story
with 8.5 3-3/8 (I assume this is a convo pro ) youll be out at the point of the fender lips but at 26 tall that shouldnt be a problem unless ride height is really lowered , watch tip on curves and driveway aprons depending on how stiff your rear suspension is
with 7"the tire will be shifted toward the frame , the cross section will decrease but the bulge out from the rim will be greater. have to be concerned about axle centering and rubbing the frame , a spacer could be used if its tight