The stock in Anna Corporation is owned by Rosemary and Clara, mother and daughter. In a Complete Liquidation of the corporation in 2023, Anna Corporation distributes to Rosemary Land that it purchased in 2008 for $1,500,000. The property had a Fair Market Value on the date of the distribution of $500,000. One (1) year later, Rosemary sells the Land for $800,000. What Loss will Anna Corporation recognize as a result of the distribution?

O $ 0. O $ 700,000. $1,000,000. O $ 300,000.