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Exercise 19-31 (Algorithmic) (LO. 8) Rosalie owns 50% of the outstanding stock of Salmon Corporation. In a qualifying stock redemption, Salmon distributes $522,000 to Rosalie

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Exercise 19-31 (Algorithmic) (LO. 8) Rosalie owns 50% of the outstanding stock of Salmon Corporation. In a qualifying stock redemption, Salmon distributes $522,000 to Rosalie in exchange for one-half of her shares, which have a basis of $652,500. Compute Rosalie's recognized loss, if any, on the redemption. Rosalie has a $ realized loss of which 4 is recognized

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