If I have 1 child, approximately how much of a tax refund could I see?

Question

If my wife and I are full time students, and we have 1 child, approximately how much of a tax refund could I see if I made about $48K and paid about $3.3k in fed tax?

Answer 1

Steven F: Your calculations are correct, but you are forgetting the child tax credit $1,000.
So, I'm calculating your tax would be $3,415 minus CTC $1,000 total tax $2,415. Tax withheld $3,300; you would receive a refund of $885.

You need to consider if you itemize deductions.

Answer 2

AGI: $48,000
Standard Deduction (Married Filing Jointly): $10,300
Personal Exemptions (3): $9,900
Taxible income: $27,800
Tax: $3,809

It looks like you owe about $500 unless you Itemize deductions of at least $13,600.

Answer 3

You haven't paid very much in taxes, i would imagine that you are going to have to pay.

Answer 4

It all depends, do you own a home? do you rent? Do you have student loans? What state do you live in? vague questions get vague answers.