[2] Wallace graduated from Austin High School in Chicago[3] before the family moved to Hollywood in 1940.

[4] Wallace married her Jigsaw costar Franchot Tone on October 18, 1941, in Yuma, Arizona.

In 1949, she made another attempt with a self-inflicted knife wound,[6] causing her to be replaced by Ella Raines as the star of A Dangerous Profession.

[7][5] In 1950, Wallace married former U.S. Army captain Jim Lloyd Randall, but the marriage was annulled later that year.

[5][9] She sang the theme song from the movie Beach Red, which Wilde produced and directed as well as starred in.