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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


(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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.


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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
Pre-Boot Authentication is no longer done via username and password, but instead can be done using an RSA SecurID token.
Pointsec for Linux 2.0 reportedly features a remote help feature, allowing users to reset their password through the help desk; a single sign-on feature; broader security for all system files starting from a pre-boot authentication; as well as an updated user interface that allows customization of the login screen, the company claims.
Configuration tools are available for pre-boot (BIOS) or OS setup tools that include Windows and Linux.
The supplied drive offers a government grade AES 128-bit encryption scheme with the capability for BIOS level ATA password locking for pre-boot authorisation.
The SafeBoot suite of mobile data security solutions allows organizations to encrypt and secure content not only at the pre-boot and file levels, but also devices, peripherals and ports.
The notebook features a TrustedPlatform Module (TPM 1.2) or 'Root-of-Trust', a chain of trust procedures monitoring every step, from pre-boot to OS load, which guards against unauthorised tampering from physical theft of software attack, while password security options for supervisors/users lock the HDD if an unauthorised user attempts to enter the system.
Altiris Inc has introduced its downloadable PXE (Pre-boot eXecution Environment) support module.