If you enter this as Other Income, you will not be allowed any deductions, but it is not subject to self-employment taxes (FICA _ social security & medicare tax).
If you enter it as self employment ("business") income, you can deduct expenses, but anything left over ("profit") is subject to both income tax and self employment tax (about 14%).
Repeating: it could also be a gift.
As VictoriaD75 said, we need to know more about the "deal".
