Paul claimed a $50,000 deduction in 2015 for carrying charges. Because this deduction is more than $40,000, Paul may have to pay minimum tax. To find out, he should complete Form T691, Alternative Minimum Tax.
National SMART Grant. The National Science and Mathematics Access to Retain Talent (SMART) Grant is available to undergraduate juniors and seniors who already qualify for the Pell Grant. However, itâs estimated that only 40% of those that qualify for the Pell Grant will also qualify for the National SMART Grant. The reason for the disparity is simple; the educational prerequisites for the SMART grant are stringent.
What is a 'Government Grant'. A government grant is a financial award given by the federal, state or local government to an eligible grantee. Government grants are not expected to be repaid and do not include technical assistance or other financial assistance, such as a loan or loan guarantee, an interest rate subsidy, direct appropriation, or revenue sharing.