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 ?
Our Restart employee is now doing highly skilled work on the NBN.
restart of the BNC refinery, currently on care and maintenance,
Tourist travel, from as far away as Milwaukee or even Moscow to New York, is already on a definite restart, as I reported earlier.
Depending on how many applications you have tagged onto your start routine, it can take forever to shut down, restart, and then all your hardware needs to reset as well.
A cold restart or cold start refers to bringing the refractory back to working temperature after the furnace has been cooled for maintenance or production scheduling.
REstart is a program of the Bobby Jo Lewis Foundation, which is named for Bobby Jo Lewis, who, along with her mother Alice, lost her life to domestic violence.
The result is simple--I'm usually not able to successfully boot and restart the system using these disks.
Restart the Mac with the spacebar down so that the Extensions Manager's window appears.
Secondly, second-touch play should be practiced in restart and in flick-on drills.
Du Pont acted after an investigation of some unusual behavior by the reactor and questionable behavior by its operators--all occurring as Du Pont employees attempted to restart the reactor following a four-month-long scheduled shutdown for modifications.
Japan's all set to restart one nuclear power plant in 2015 having passed all the necessary requirements for its safe operations.
Regional authorities in Japan on Friday approved the restart of the idled Sendai nuclear plant of Kyushu Electric Power Co, paving the way for a revival of the stalled industry more than three years after the Fukushima disaster.