Quinlan has ample E & P to cover any distributions made during the year. One distribution made to a shareholder consists of property with an adjusted basis of $1,374,600 and a fair market value of $824,760.

What are the tax consequences of this distribution to Quinlan?

If an amount is zero, enter "0".

As a result of the distribution, Quinlan Corporation has a realized

gainlossloss

of $fill in the blank 2 of which $fill in the blank 3 is recognized. The shareholder received property with a basis of $fill in the blank 4.