He studied under Thomas Eakins at the Pennsylvania Academy of the Fine Arts in Philadelphia.
[1] He posed for several of Eakins's paintings, including The Crucifixion (1880), Arcadia (1883) and The Swimming Hole (1884–85), and for dozens of photographs.
[citation needed] In 1891, he moved to Omaha, Nebraska to take the position of Director of the Western Art Association.
That organization soon failed, but Wallace remained in Omaha, becoming a commissioned portrait painter and professor.
[citation needed] Wallace died in Omaha, Nebraska on 30 June 1953, aged 89.