The two of you paid for both sarah and billys college, Financial Management

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The two of you paid for both sarah and billys college

Joe Ji is married to Joy Ji and have 2 children, Sarah who is a freshman in college and Billy who is a junior in college. Together you made $160,000 in 2015. Your AGI was $150,000. You own a home in Powell, Ohio. The two of you paid for both Sarah and Billy’s college tuition for a total of $10,000. How does this affect your taxes?

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