Yes, you must report the self-employment income. Even though it is less than the standard deduction of $12,000, you will be subject to paying self-employment taxes such as Social Security and Medicare.
Since your income is so low you are eligible for a turbotax product called tax freedom. It is different then the turbotax site and you have to log out of turbotax and start fresh in that program. Otherwise you would have to use a paid version of the program to show your self employment income.
There is also The Turbo Tax Free File program which is free for federal and state. And has more forms than the Federal Free Edition, like Schedules A, B, C , D, E, F, EIC, H, K-1, SE, etc.
NOTE: You will have to log out of your regular Turbo Tax Account and setup a new account with a new username and new password or it will take you back to regular Turbo Tax.
To qualify for the Free File website you just need to meet one of these 3 things
AGI $34,000 or less
Active duty military with AGI of $66,000 or less
OR qualify for EIC (earned income credit.)
In order to use the Free File program, you have to start it at a special website. Click on the bottom Orange button I Qualify Start Now and set up a NEW account
<a rel="nofollow" target="_blank" href="http://turbotax.intuit.com/taxfreedom/">http://turbotax.intuit.com/taxfreedom/</a>
This is income earned from a research study, not self-employed