MLchartDataset catalogue

Boot

Term · Law · MLC-T-LAW-000769

Additional property or money given in an exchange to equalize the value of the assets being traded. This payment is often made when non-like-kind properties are swapped in a transaction that would otherwise qualify for tax-deferred treatment. In a like-kind exchange under Internal Revenue Code Section 1031, the receipt of boot can trigger immediate tax liability.

Table 1. Record
IdentifierMLC-T-LAW-000769
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000769",
  "term": "Boot",
  "field": "Law",
  "definition": "Additional property or money given in an exchange to equalize the value of the assets being traded. This payment is often made when non-like-kind properties are swapped in a transaction that would otherwise qualify for tax-deferred treatment. In a like-kind exchange under Internal Revenue Code Section 1031, the receipt of boot can trigger immediate tax liability.",
  "url": "https://mlchart.com/terminology/law/boot/"
}

Record 572 of 5,441 in Law terminology (MLC-0107). Request the full dataset.