Yes, you need to report 1099-K income on your tax return,
regardless of whether the issuer of the form was required to send it to you or
not. It’s considered taxable income.
And, bear in mind that when the issuer sends you a copy,
they also send it to the IRS, who might wonder what’s going on if you don’t
report it.
If this business activity resulted in a loss, as you
suggest, you’ll be able to enter the offsetting expenses in TurboTax.
