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If you have received a Form 1099-K which contains errors or has amounts that are not income and not self-employment, you should enter the Form 1099-K as it is received the Other Common Income section, so that it matches what was reported to the IRS. 
If the form was for business or for sales of personal items, it will be entered elsewhere, so please give us details if this is the case. 

In addition, make an adjustment to show the negative amount which should be subtracted. 

For instance:

1099-K personal transactions  $ -100

1099-K sale of personal items at loss   $ -200

To enter this, go to:

1. Wages and Income
2. Scroll down to Less Common Income and select  Show More
3. Scroll down to the last entry and select Start or Review for Miscellaneous Income, 1099-A, 1099-C 
4. Scroll to the last entry, Other reportable income and click on Start
5. Any Other Taxable Income? Select Yes
6. Then enter 1099-K, the reason for the adjustment, and the amount, as below, and Continue
    

This adjustment entry will appear on the return on Form 1040, Schedule 1  Part II – Line 24z, Other Adjustments, which follows the directions from the IRS on their website.  See Question 8 for an example.

It should show like this on your Schedule 1