Boot

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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 ?
WinGuard Pro also allows for further protection so that users cannot bypass the WinGuard Pro security software-restricting access to MS-DOS, the CTRL+ALT+DEL keys and bootup keys are among some of the other security features offered.
You'll find a selection marked Default Operating System for Bootup and that's what you need to click.
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FAST Factor technology blends the strengths of SSDs and hard disk drives for faster access to applications, quicker bootup and higher overall system speed.
1 inch notebook that will mainly focus on fast web browsing that allow users to quickly get online and start surfing within 8-10 seconds from bootup.
The new version will have faster bootup times and better graphics support.
Seagate's Adaptive Memory[TM] technology is key to the drive's speed, optimizing its performance by moving frequently used information into the 4GB of onboard solid state memory for faster bootup and application access.
Windows 7 with Lenovo Enhanced Experience featuring up to 57% faster bootup and shutdown time2