You don't have a sole Owner. You have a Shareholder-employee. There is never a 1099-Misc from your own corporation to yourself, when you are the person doing the work for the business. You are the employee and get a W2, along with the K-1 that is related to your ownership position.

This person did not take $50k compensation. They simply took money, so it is time to turn that into compensation as taxable wages for 2018. Both the corporation, as the employer, and this person, owe taxes that are supposed to be part of the payroll reporting. Don't overlook FUTA and SUI.