How does the new tax bill affect LLC owned real estate?

[Roshan Taheri]

I saw the new tax bill passed in December, and there is a change that pass-through entities (LLCs for example) will get a 20% tax deduction. 

Did I read into this correctly? Are any CPAs out there who could shed some light on this or is it just not that simple? I'm just curious if this is an additional incentive to rent properties through an LLC (on top of the liability advantage)?

[Logan Allec]

@Roshan Taheri If rental real estate income does in fact qualify for the pass-through deduction -- and there is no chapter and verse on that although most practitioners are operating under the assumption that it does -- you will get the deduction regardless of whether you hold it in your name or through an LLC (as long as the LLC has not elected to be taxed as a C corporation).