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 ?
The Boot Camps immersion training sessions for wood Industry suppliers really pack a lot Into a short time in an effort to broaden their knowledge of the overall wood manufacturing processes.
The groundbreaking Columbia and Rice fintech boot camps powered by Trilogy will help meet the sector's growing demand for a digitally skilled workforce,' said Dan Sommer, CEO and Founder of Trilogy Education.
The boot camps are also responding to another challenge: affordability.
For an aspiring software developer or designer, a technical background gained from the coding boot camp can help.
The Boot Camp Assistant helps you through the whole process of putting Windows on your Mac.
The boot camp runs for five weeks, with participants exercising twice a week in Reliant's Back to Work Center at 640 Lincoln St.
Australian spin legend Shane Warne had sarcastically spelt out his misgivings about Australia's boot camp ahead of the 2006-2007 Ashes, organised by then-coach John Buchanan, in which former players Stuart MacGill and Michael Kasprowicz suffered serious injuries, although Australia went on to win the series 5-0.
All in all, HR Boot Camp is an enterprising venture, one that requires an individual to adapt to changes in a given environment, realize an individual's true potential and further the belief that with true conviction and commitment anything is possible.
"It's not like a festival where you compete, it's more about learning," Khaleej Tourism Guide managing editor and boot camp co-organiser Leila Jaravata Dulay told the GDN.
EVER fancied putting your fitness to the test with a boot camp? Well now's your chance - and you could be raising much-needed charity funds at the same time.
YOUNG entrepreneurs from Huddersfield are turning their commercial ideas into reality - thanks to a business "boot camp".
In many cases we felt that the young people simply weren't prepared for the world of work, they didn't know how to behave in an interview, write a CV or dress appropriately and so the Rising Stars boot camp was born."