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 ?
Bootup is pretty quick, presumably because of its flash memory and the fact that there's not a heck of a lot loaded on the thing, software-wise.
Describe The Operation Of Cisco Routers (Including: Router Bootup Process, Post, Router Components).
Once the fingerprint information has been extracted and matched with the stored template, VBX unlocks the BIOS bootup process.
Support for these protocols enables developers using VRTX on the PowerPC to quickly and easily build applications for distributed systems and devices requiring flexible remote bootup configuration support.
After bootup, the client Macs can login to any Apple File Sharing (AFP) Server including EtherShare running on Mac OS X.
Beltway Bootup is a must-read daily column of news and gossip about and for the local technology community written by Mary Beth Regan, formerly of Business Week.
It runs a suite of diagnostic and management programs, including sequencing the boot process, assisting in configuration decisions at bootup, monitoring environmental conditions, and helping Starfire recover from interrupts.
AST-SystemGuard incorporates advanced security features that allow users to customize and provide security for their systems from various points during operation including bootup, login and real-time.