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 ?
Dole and Reboot share a common goal of promoting and supporting healthy food choices and a diet rich in fruits and vegetables," said Joe Cross, Founder of Reboot Your Life.
In 1996, Mainframe ceased production on ReBoot and co-produced, with Alliance Multimedia, the first season of Beasties for Hasbro Toys.
Founded in 2002, Reboot engages and inspires young, Jewishly-unconnected cultural creatives, innovators and thought-leaders who, through their candid and introspective conversations and creativity, generate projects that impact both the Jewish and non-Jewish worlds.
WTI's new MPC-HD series remote reboot switches, Morrison said, were specifically designed to provide remote reboot capabilities for high-amp devices such as Cisco switches.
Sixteen] days in and my 8X is uselessaafter initial 2 days of reboots my phone was perfect for 12 days since Friday just gone I'm getting major issues including reboots starting up again, SIM errors, people hub not working, messaging not working, phonebook not working, unable to fetch data from feeds.
No program we have ever launched has had as much resonance with a mass audience as the National Day of Unplugging," said Lou Cove, executive director at Reboot.
More than 40 leading Web hosting and IT infrastructure companies have deployed Ksplice Uptrack as early adopters of the service, which has successfully saved tens of thousands of reboots to date.
Our firm is dedicated to giving back to our community, and partnering with a great organization like Project Reboot allows Dataprise engineers to do what we do best while helping those in need.
The ReBoot toy line includes fully articulated 5-1/2-inch action figures, dramatically designed vehicles; a deluxe ReBoot character edition with voice recording capability and 9-inch ReBoot collector's series.
Smart Restart Returns a Computer to Its Pristine Configuration upon Reboot, Giving the User Total Control of Their PC
Step into the 3D computer animation world of ReBoot and the city of Mainframe where our heroes Dot, Enzo, Mouse, AndrAIa, and Phong are fighting to defend their world from the evil virus, Megabyte and his deviant sister, Hexadecimal.
Nighthawk solutions like the NH100 enable network operators to wirelessly and conveniently extend their reach, allowing them to turn on, off or reboot remotely located equipment at any time, in seconds, from virtually anywhere.