Boot


Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Idioms, Encyclopedia, Wikipedia.
Related to Boot: Boot disk

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 ?
By October, the Army had made a request to industry to find out what was possible, and by December contracts were awarded to two boot manufacturers in the United States to build more than 36,700 jungle-ready combat boots, enough to outfit both full IBCTs in Hawaii.
I spoke to veterinarians, mushers, skijorers, hunters, detection dog handlers, and members of an urban dog club to find out what they look for in a winter dog boot and why.
In addition to the range of boots the shop provides, you can shop for belts and wallets.
The riding boot that closely resembles the modern-day cowboy boot was born, and soon became popular in Kansas, Oklahoma and Texas.
New LookNew Look Knee-high Brown Brown suede suede slouch slouch boot, PS110, Office Black round-roundtoe slim toe boots, PS34.
Each publishes repair manuals for its various models which, along with reference to the maintenance manual for the specific type of airplane, provide maintenance instructions and set limits as to whether damage or wear can be repaired or the boot must be replaced.
Dune Paramount black lace-up boots, pounds 199 (far left); Laura Ashley contrast trim riding boots, pounds 135 (left); Russell & Bromley Victoria red platform boots, pounds 375 (right) Topshop Anika leopard print boots, pounds 65 (left); Kurt Geiger Salem biker boots in Gunmetal, pounds 190 (right) Neeve Ella GTX Boot, pounds 120 from Clarks
With a light-soled boot or stalking shoe you can feel the ground and back off of a poorly placed step.
The intent was to try a boot that is easy to clean, will not stain, and hides scuffs and wear from industrial use.
The eye-catching assertion - "The Best Boots Money Can Buy.
net of Chicago is now offering a selection of Glass Drinking Boots imported from Germany just in time for gift-giving season.
Teen boot camps are modeled after military training camps, and can be either public or private.