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 ?
Sustainability Boot Camp is one of many tools the City provides to support building owners and staff in reducing emissions and meeting vital OneNYC sustainability goals, including the NYC Retrofit Accelerator, NYC Benchmarking Help Center, the NYC Carbon Challenge, the Green Housing Preservation Program, and a new building operators training through NYC Small Business Services.
However, a determined person could take the knowledge gained at a boot camp and go find an entry-level job, work hard, keep learning and prove themselves.
Before you install Windows, Boot Camp Assistant resizes your Mac partition.
This includes the Dads Adventure newsletter series with CBE teaching tips for your fathers-to-be, our downloadable PDF "What New Moms Should Know About New Dads" for your mothers-to-be, and the beginnings of collaboration on the New Moms Hearts & Minds Project and Boot Camp for New Moms.
A spokesman for The X Factor said: "Cheryl will not be attending The X Factor boot camp later this month.
At the end of the six weeks, all platoons come together to fight it out at the Boot Camp Assault Course Challenge to gain the ultimate reward.
Sunny said: "At a boot camp people spend the whole week exercising outside.
Graham Carr Smith, from Help Stop Snoring, which organises the boot camp, said: "With more than 15 million snorers in the UK alone, we're pretty sure there must be a good deal of tired and grumpy partners in Birmingham who are desperate for a peaceful night's sleep.
If you think you or someone you know should be at this year's Snoring Boot Camp, email bootcamp@htpr.
This was the 12th offering of the Healthcare CIO Boot Camp, with 515 graduates, says the organization.
There was a genuine exchange among the attendees at Boot Camp and that was the best part," says Monica Tiffany of Merrigan & Co.
Teen boot camps help troubled kids turn their lives around.