please don't use sum or any other native matlab function names for variables names in your code; this can shadow the native function and create trouble in code execution (and unpredictable results).
beside that , your conversion from degrees to radian was wrong (as x is supposed to be in rad in the taylor formula)
also no need for for loop as your code can be easily vectorized.
code updated :
disp("Input the angle in degrees (d) and the number of terms (n)")
y = ((((-1).^k).*x.^(2*k+1)))./factorial(2*k+1);
fprintf('sin taylor (%3.2f) = %1.4f\r',d,out)
fprintf('sin (%3.2f) = %1.4f\r',d,sin(x))
fprintf('error percentage (%3.2f) = %1.4f\r',d,error_percent)