I started a new company in 2019. I formed it and elected to be an S Corp. I am the President of the company and the only employee. I didn't make much money but I did file the quarterly 941 reports and have issued a K1 to me showing some income based on what I filed on the 941. I'm assuming for 2019, I can just report the K1 and take into account the monies I paid each quarter on the 941 as on account payments. But do I also need to issue myself a W2? If that's the case, then it seems like I'm duplicating income. My understanding is that I must produce a K1 but that I don't have to produce a W2.
