Well you do owe Self Employment tax in addition to regular income tax on it.
Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit (If it is greater than $400). The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare (FICA). So you get social security credit for it when you retire.
The SE Tax on 52,000 net profit is $7,347.37
What version are you using? You need to use Online Premium to fill out self employment on schedule C. Print or review your return. What lines don't you understand?
Before filing you can preview the 1040 or print the whole return
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