Section 280-RICR-20-20-12.11 - Sale of Qualified PropertyA. A sale, as described in § 12.10 of this Part, will include any transaction giving rise to both realized and recognized gain or loss as those terms are understood for federal income tax purposes. Any transaction not giving rise to both realized and recognized gain or loss for federal income tax purposes will not constitute a sale. The terms "or other disposition" appearing in § 12.10 of this Part, and "disposed of" appearing in R.I. Gen. Laws § 44-32-1(5) are defined as any transaction substantially equivalent to a sale.B. Any event or transaction not constituting a sale or other disposition will be subject to the rules regarding recomputations under R.I. Gen. Laws § 44-32-1(a) and §§ 12.7, 12.8, and 12.9 of this Part.C. In any case where property which has been the subject of a research and development deduction is liable to a recomputation under R.I. Gen. Laws § 44-32-1(a) and §§ 12.7, 12.8, and 12.9 of this Part, and is subsequently sold or otherwise disposed of by the taxpayer, the subsequent sale will be accountable to R.I. Gen. Laws § 42-35-1(5) and § 12.10 of this Part. However, an appropriate adjustment shall be made to reflect the previous recomputation.280 R.I. Code R. § 280-RICR-20-20-12.11