Investment Interest (Form 4952) is limited because of investment income.
for purposes of such "investment income" does partner's guaranteed income count??
for purposes of such "investment income" does partner's guaranteed income count??
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Doesn't look like it qualifies for Line 4a of the form, as "guaranteed income" appears to be income earned in the "ordinary course of business".
Client has $48,000 in investment interest which will be suppressed because of lack of investment income. His share of recourse liability is roughly $1 million, so this makes sense. Question becomes if he files this, and cannot itemize Sch A because the std deduction is greater - will this 4952 interest roll forward to 2022?
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