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You need to report the item as other income on form 1040. The earnings are subject to self-employment tax which is calculated on Schedule SE. You really don't have to report the income on Schedule C unless you have some expenses that you can deduct against the income.
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Actually, Schedule C or C-EZ should be used to report in a proper fashion any self-employment income if the gross is $400 or more. See the instructions for Schedules C, C-EZ, and SE (in Package X for example). If the gross is under $400, then you can list it simply as "Other Income" on 1040 line 21.
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