Boot

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Related to Boot-up: Bootloader, bootstrap process, Bootstrap loader

Boot

Money or an asset added to a trade in order to make it reflect the fair market value of the assets being traded. A common example of a boot is a trade between a new car and an old car. The person trading the old car will usually add money or another asset to the deal in order to make it "even." The boot is often taxable even in an otherwise tax-free transaction.

boot

(1) Money or other property that is not like-kind and is given to make up the difference in value between two properties exchanged in a like-kind exchange under Section 1031 of the Internal Revenue Code.If a gain would otherwise be recognized on the transaction,except for the intervention of the 1031 vehicle,then gain must be recognized and taxes paid to the extent of the value of the boot. (2) Especially in Texas, it is common among property developers to require some type of boot to show that more than money is involved in their business transactions.

Example: A seller might agree to sell prime property for $12,000,000, but only if the buyer throws in a particularly handsome bronze statue sitting on his desk.

Boot

Cash or property of a type not included in the definition of qualifying property for purposes of structuring a nontaxable exchange. The receipt of boot will cause an otherwise tax-free transfer to become taxable to the extent of the lesser of the fair market value of the boot or the realized gain on the transfer. Examples of nontaxable exchanges that could be partially or completely taxable due to the receipt of boot include transfers to controlled corporations and like-kind exchanges.
References in periodicals archive ?
Start-ups formed in 2010 or 2011, as well as those that are still in development, are eligible to apply to Start-up, Boot-up.
8 /PRNewswire-FirstCall/ -- Seagate Technology , the world's number one hard drive maker, today launched a new era of digital storage by shipping in volume hybrid notebook disc drives that combine disc storage with flash memory to deliver ultra power efficiency, faster boot-ups and greater reliability for the exploding laptop PC market.
The new products include a notebook disc drive that combines rotating disc storage with flash memory for ultra power efficiency, faster boot-ups and greater reliability; a data encrypting drive that delivers the highest levels of protection for information on lost, stolen or retired notebook PCs; and a 7200-RPM model for super-speedy laptops.
With Sendia Wireless SFA, there are no longer long boot-up times, lost connections, inefficient device interfaces, data exchange integrity and IT management issues.