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

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.

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

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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
"The changes to the restart could have been devastating to my fleet and thousands of other trucking companies across the country," said ATA chairman Kevin Burch, president of Jet Express Inc.
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He stated: "BMI's subsidiary in Moscow (Mir Business Bank - Moscow) faces no more obstacles in its activities and all BMI overseas units will restart their normal business in near future."
The language was supposed to say --in the minds of supporters of the less restrictive restart--that if the safety report didn't prove conclusive safety results from the restrictions, then the 34-hour restart would revert permanently to the current system.
The other important property is that the structure of A is chosen such that unrestarted FOM and FOM(m) for any restart length behave exactly the same in the first n - 1 iterations when the initial residual is a canonical unit vector, so that we do not have to take the restart length into account and can perform most of the analysis as if we were dealing with unrestarted FOM.
So the current assessment is that PM 11 will be restarted in mid-March 2016.
The company's current assessment is that PM 11 will be restarted in mid-January 2016.
Despite the push by the government and utilities for nuclear restarts, most Japanese are opposed to a return to nuclear energy.
Ziaratwal said that the restarted goods train would build up the confidence of traders and would promote mutual relationship between both countries.
The restart of Japan's first reactors, under new rules imposed since the Fukushima catastrophe in 2011, is unlikely until next year as Kyushu Electric still needs to pass operational safety checks.
TOKYO, Oct 28 (KUNA) -- A local city assembly in southern Japan on Tuesday approved the restart of a nuclear power plant there, one of the final steps before the facility will go back online.
Since the operator is not fully aware of the damage and repair time, the deadline for the restart can still be changed, the spokeswoman warned.