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As a tax assistant, I can provide general information about deducting investment interest expenses. Investment interest expense is limited to your net investment income. Net investment income generally includes interest, dividends, annuities, royalties, and net rental income, but it does not include qualified dividend income or net capital gain eligible for the lower capital gains tax rates. Guaranteed payments for services from a partnership are considered earned income rather than investment income. Therefore, you typically cannot use the investment interest expense to offset the earned income from the guaranteed payments. However, if you have other net investment income, you can deduct your investment interest expense against that income, up to the extent of your net investment income. Any unused investment interest expense can be carried forward to future tax years. Keep in mind that the application of tax rules might vary depending on the specifics of your situation, and consulting a tax professional is always recommended for tailored advice.