Boot: Money or other property that is not like-kind, which is given to make up any difference in value or equity between exchanged properties. Boot may be in the form of cash, notes, gems, the market value of an asset such as a mortgage, land contract, personal property, goodwill, a service or a patent offered in an exchange. The taxable gain in the like-kind exchange is recognized immediately to the extent of boot, whereas, other gain from the exchange may be deferred until subsequent transfer.

 

Related Words

Boot: The process of turning on the computer and beginning the process of loading the programs and operating system into memory to be processed into tangible data.

Master Boot Record (MBR): A small program that is executed when a computer boots up. Typically, the MBR resides on the first sector of the hard disk. The program begins the boot process by looking up the partition ta . . . View Full Definition

Reboot: To restart a computer. In DOS, you can reboot by pressing the Alt, Control and Delete keys simultaneously. This is called a warm boot. You can also perform a cold boot by turning the compute . . . View Full Definition

Warm Boot: Rebooting the system by using a software command rather than turning the power off, then on. The system is reset but power is never interrupted.