Yes, you need to report all business income as it's reported to you. If an amount reported to you on a form is incorrect, then you should go back to the company that issued you the form and have it corrected. They'll need to provide you with a 'corrected' version of the form, which you can report on your taxes.
You don't want to report a different amount from what is reported to you on a form because these forms are submitted to the IRS too.
If you provide more information about the type of business you have and the form that you received, I can help you verify why it's incorrect.
