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You don't have "draw" accounts in an "S-Corp".
First you should be taking any profits out by establishing a reasonable salary, paying the corporate payroll taxes, employee withholdings of Social Security & Medicare Taxes, income tax & any state income taxes; Then you would take any remaining profit distributions as dividends on your S-Corp Stock which are not taxable as they would be part of your profits which are taxable via your K-1 whether you withdraw them or not.
Yes, it would be an Equity Account; and be grouped with your AAA Account when you do any financial statements or your 1120-S. If you look at the 1120-S Schedule M-2, line 7 you'll see that the Profit Distributions are reflected there. The Distributions are also reflected on Schedule K, line 16(d). Actually they could be named "Profit Distributions" or "S-Corp Profit Distributions" whichever you prefer. There's no 1099 reporting of these amounts as they represent whatever amount of the Current Year's Profit you have distributed during the year. Actual "Dividends" in the context of the S-Corp are distributions of Accumulated Earnings & Profits for any period of operation prior to electing S-Corp status, if the Corporation was in existence before it elected to be an S-Corp.