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 ?
Millennium is expected to have faster bootup times and better graphics support than current versions of Windows.
Well, there are improvements to TCP-IP and dial-up networking, new RAS and Virtual Private Network facilities and general improvements to bootup and application loading times, so we`re told.
[] Consider installing a bootup password, available on most portables, so only users with your password can access the hard disk.
Bootup and client software management will be handled at the head-end, reducing system cost.
To get the new OS running swiftly, HP has chosen to go with a 1.8GHz Intel Dual Core Atom (Z2760) processor along with 2GB of RAM, and the fast bootup times promised by the 64GB SSD.
Samsung released the new 12.1 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. Acer will be offering an 11.6 inch notebook with a 6.5 hour battery life.
The new version will have faster bootup times and better graphics support.