What BOOT means: 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.
- Definition Bequest:
- Dictionary A gift by will of personal property boot.
- Definition Bearer Bond:
- Dictionary A bond that has no owner's name registered on the books of the issuing company and is therefore payable to the holder boot.
- Definition Basis:
- Dictionary to an asset from which gain or loss is determined for income tax purposes when the asset is sold. For assets acquired by purchase, basis is cost. Special rules govern the basis of property received boot.
- Definition Basis Of Stock:
- Dictionary amount paid for the stock. If the stock is received as a gift, basis is generally the basis of the previous owner or the fair market value when received. The basis of inherited stock is usually its boot.
How works Boot meaning in Tah definition B .