NO .... All your gambling income/winnings MUST be reported on the form 1040 and the losses can go on the Sch A ... you will enter the amount from the 1099-K as gambling winnings in the proper section for gambling winnings and then you will be asked for the losses. Do NOT just put it on and negate it off completely on the Sch 1 line 8 ... this will get you an IRS audit letter for sure.
