significant participation activity is:

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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 does not materially participate.