Hoosier Corporation declared a $2-$for$-1$ stock split $($shareholders received one share of stock for each share they already owned$)$ to all shareholders of record on March $25$ of this year. Hoosier reported current E&P of $$600,000$ and accumulated E&P of $$3,000,000.$ The total fair market value of the stock distributed was $$1,500,000.$ Barbara owned $1,000$ shares of Hoosier stock with a tax basis of $$100$ per share.

Note: Leave no answer blank. Enter zero if applicable.

Problem $7-50$ Part a $($Static$)$

a$.$ What amount of taxable dividend income, if any, does Barbara recognize this year? Assume the fair market value of the stock was $$150$ per share on March $25$ of this year.