Yes, you will need to report this money as income on a Schedule C, even though you have not "cashed out" the money  nor received a 1099 for this self-employment income. 

Enter Self-Employment Income;

1. Open your return (if not already open).
2. Enter "Schedule C" in the Search box.
3. Click on "jump to Schedule C" link.
4. Answer Yes on the Did you have any self-employment income or expenses? screen.
   • If you land on the Your 2024 self-employed work summary page, select Review next to the work you're adding income for.
5. Answer the questions on the following screens until you arrive at Let's enter the income for your work.
6. Select Other self-employed income and select Continue.
7. On the next page you can enter any cash, personal checks, credit card payments, etc., related to your self-employment.
8. Select any expense categories you have screen.
9. Select your expenses, then Continue.
   • If you've already worked in this section, select Edit or Review next to your business.
10. Then select Start or Edit next to an expense type that you had.
11. Enter your expense description and amount, and follow the onscreen instructions.
12. Proceed through the program screens... entering your information.

[Edited 2/12/25 | 8:05am PST]

@HAYLEE1234