Boot

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Related to Bootes: Canes Venatici

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 ?
The Bootes void is by far the largest of all known low-density regions.
In Britain the Big Dipper is called the Plough, and some ancient authors also figured Bootes tills the fields of heaven with ox-drawn farm equipment.
Collecting several traditions in Poeticon Astronomicon, the Latin mythographer Hyginus, in the 1st century BC, identified Bootes as legendary farmer Philomelus, who purchased two oxen, invented the plough, revolutionized Roman agriculture, and was astronomically transfigured by his mother, Ceres, the goddess of growth and harvest.
Bootes and Loncarevich were in hot pursuit to the finish.
Although simple to find, Bootes is a constellation lacking deep-sky wonders--or so you might think.
It lies near one point of a right triangle of nearly equal stars, and a bright star in Bootes can be seen to its south.
No one can look at Bootes, the Herdsman, without paying homage to the brightest nighttime star lying north of the celestial equator and the second-brightest star normally seen from midnorthern latitudes.
Speaking of star colors, Bootes is perhaps the most notable of constellations for prominent double stars.
I received a letter from Randy Poole of Seattle, Washington, who feels that this little-known pair is the best of all that Bootes has to offer.
0-magnitude Arcturus, Bootes contains five 3rd-magnitude stars and two dozen more down to 5.