Cost Segregation on Syndication to offset ordinary income

[Kevin Kittilsen]

I am in the process of investing in a multi family syndication. The management team plans to do a cost segregation study (closing on property in 2022). My question is can I use the accelerates/ bonus depreciation against my tax liability for ordinary income? I believe I can as long as I have real estate professional status which I believe I do as I work for a home builder. 

[Chris Seveney]

Quote from @Kevin Kittilsen:

I am in the process of investing in a multi family syndication. The management team plans to do a cost segregation study (closing on property in 2022). My question is can I use the accelerates/ bonus depreciation against my tax liability for ordinary income? I believe I can as long as I have real estate professional status which I believe I do as I work for a home builder. 

See below, if you do not own the firm, your hours do not count.

From an online tax firm:
It is very common that an employee who works for a real estate brokerage firm or a real estate management firm also owns and operates rental properties. While they are spending significant time in a real estate trade or business, the hours spent as an employee will not count toward the “more than one-half of the total personal services” and the 750 hours requirements. Hours spent as an employee only will count toward this test if the employee owns more than 5% of the employer.