A significant participation activity is: Any trade or business activity in which a taxpayer materially participates. Any rental real estate activity in which the taxpayer has significant bona fide involvement and has a 10% or greater ownership interest throughout the year, regardless of the form of ownership. Any trade or business activity in which a taxpayer participates for more than 100 hours, but does not meet any material participation tests. Any trade or business activity in which a taxpayer participates for more than 500 hours but