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.
Grants and scholarships are free money to help pay for college or career school. Find out what grants and scholarships you might be able to get. Grants and scholarships are often called âgift aidâ because they are free moneyâfinancial aid that doesnât have to be repaid. Grants are often need-based, while scholarships are usually merit-based. Grants and scholarships can come from the federal government, your state government, your college or career school, or a private or nonprofit organization.