Section 663(b) says,"If within the first 65 days of any taxable year of an estate or a trust, an amount is properly paid or credited, such amount shall be considered paid or credited on the last day of the preceding taxable year"
Let's say $100,000 worth of assets were distributed to the beneficiaries on 1-15-2018 which was within 65 days of taxable year 2017. By making Section 663(b) election, does it automatically make $100,000 go on line 10 in Schedule B of Form 1041 and passed through to the beneficiaries personal tax return through Form K-1?
Or are there other factors needs to look into?