The only way a business can generate a refund is by qualifying you for an Earned Income Credit. A business, in and of itself, only generates income to the extent of the profit. If you had had a $50,000 gain, you would have quite a tax liability.
The EIC is based on income. It starts off as a small credit, maximizes at income between $10,150 and $18,200 for 2016. The smaller your income below that $10,150 the smaller your credit and as a result, the possible reduction of refund. The larger your income above the $18,200 and the smaller your credit.
