20% New Tax Law on Pass Through Entities

[Shane M.]

Hello All,

I am a real estate investor with single family properties in my portfolio showing them under Schedule E on my tax returns. I don't have any employees and have property managers for a few rentals while the rest I manage myself. Are landlords like myself eligible to receive the 20% deduction under the new tax laws passed in 2018? I realize there is still some ambiguity to this law since it is so new. However, on checking with 2 CPAs, one said I was eligible and the other said I wasn't since this is only for Qualified Business Income (QBI). Can I please pick your brains to understand whether this new tax law would impact investors like myself? 

Thank you in advance for your time and help.