Yes. You really don't have a choice on this. If you received a 1099-MISC with the amount paid to you reported in box 7, then as far as the IRS is concerned you earned that money while self-employed and in business for yourself. So it gets reported on a SCH C as a part of your personal 1040 tax return. Additionally, if the amount earned through self-employment exceeds $400, then in additional to your regular income tax, you'll also pay an additional 15.3% self-employment tax.
