Nolo's Plain-English Law Dictionary

Legal Dictionary Home

Need Professional Help? Talk to a Lawyer

Enter Your Zip Code to Connect with a Lawyer Serving Your Area

searchbox small
Boot
In a 1031 exchange, any property, liabilities, or money received that does not qualify for the exchange and is taxed. For example, if a taxpayer sells a relinquished property with a $100,000 gain and buys a replacement property for $10,000 less than the sales price of the relinquished property, he has $10,000 boot.
LA-NOLO3:LEADS1.0.0.1.20150303.30828