Yes, that's a rough description of how the Lewis structure for formic acid,
Here's how you'd go about drawing the Lewis structure for this compound. The molecule has a total number of 18 valence electrons, 1 from each of the two hydrogen atoms, 4 from the carbon atom, and 6 from each of the two oxygen atoms.
Start by drawing connecting each of the five atoms through single bonds - this will use up 10 (2 for each single bond) of the 18 valence electrons and leave 8 more available.
Place these 8 valcence electrons as lone pairs on the oxygen atoms - 2 on the oxygen that is bonded to the carbon atom and to one of the hydrogens, and 2 on the oxygen that is bonded solely to the carbon.
To solve this problem, and give carbon its complete octet, use one of the lone pairs of electrons present on oxygen to form a double bond between the two elements.
That will be the Lewis structure for formic acid,