In that case does this mean I will have to pay Social security and medicare taxes? If so does anyone know what forms I have to fill out? My first time as Self Employed.
You will have to pay self-employment tax, which is the Social Security and Medicare tax for self-employed people. When you enter your self-employment income in TurboTax it will fill out all the necessary forms. Schedule C is the primary form for reporting self-employment or business income. Schedule SE will calculate the self-employment tax.