Business & farm

A few comments:

• The initial year of an S corporation can be a learning process
• An S corporation should be paying a shareholder / employee a reasonable salary.  The key here is "reasonable"; which is always a facts and circumstances situation.  There is no bright line test.
• By not paying yourself a salary for 2021 and taking a significant distribution, you will have exposure.  This is a hot issue for the IRS and understand that your return could possibly trigger an internal review leading to an actual IRS audit.
• If audited, there is a more likely than not position that the IRS will recharacterize some of the distribution as a wage.  This will lead to late payroll tax return filings, penalties for late filing, change to your 1040 and additional tax due the IRS.
• As noted by @Anonymous_ currently your distribution is just that; a distribution.  Since it appears that you have positive tax basis in your S corporation, this distribution is not taxable.
• I strongly recommend you consult with a tax professional to get an understanding of what would be considered a reasonable salary for your business.  Being a sole shareholder, and I'm assuming driving the income, your wage will generally be at the higher end of "reasonable".
• We are now into the 10th month of 2022.  If you have not fixed the wage issue, you need to do it quickly.  
• I would also recommend getting a payroll service.  Some CPA's provide this service as well.  Don't procrastinate on getting this matter under control.
• https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-employees-shareholders-a...