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 ?
EzMigration can be used to copy any drive but it is particularly useful for people faced with the job of having to migrate their boot drive contents.
Fitzgerald is "a nice kid" and it is for a good cause, "I am concerned that approving this would open it up so that everyone who wanted to raise funds would do a boot drive," Mr.
EzBackup's new Image Restore Disk makes it a simple task to replace or restore an entire damaged or corrupted boot drive.
Many current systems employ Ultra 320 parallel SCSI for boot drives, local data storage, or external arrays of modest size.
For high storage reliability, ServerDOM[TM] is compatible with Intel RSTe technology and can be configured as a pair of SSD Boot drives for OS redundancy.
We raised $1,000 already in small donations through two boot drives on Main Street and $600 in sponsorship from local businesses.
Relocating the SCSI boot drives from the server blades onto a shared storage blade brings a new level of efficiency to server blade architecture and further enhances the size, performance and scaling attributes in these systems.
Each server node needs local I/O like boot drives to function.