Definition of "boot"
  1. Taxable component in a 1031 exchange, comprising of any property, debts, or cash received that's not a part of the trade
How to use "boot" in a sentence
  1. To lessen his tax liability, he tried not to receive any boot in the property exchange.
  2. In the trade, she received a valuable painting as a boot, which increased her tax burden.
  3. He realized too late that the cash he received in the transaction was considered a boot.

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