Yes. You are confusing income tax with self-employment tax, Any self-employed income of $400 or more must be reported so you can pay the Medicare and Social Security tax.
You will not have income tax on that amount. If you had been paid wages, with a w2, they would have taken out Medicare and Social Security tax, but they didn't. An employer must match the amount withheld from the employee. Since you had no employer, you must pay both parts of the SE tax. This is reported on your tax return and is the method for collecting the SE tax.
See What is the self-employment tax?
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