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You should just ignore the 1099-MISC. $.07 rounds to zero. You don't want to complete a Schedule C - Profit or Loss From Business for $.07. I recommend you delete the 1099-MISC.
I have the same problem except when I delete the 1099-MISC I still get Schedule C related errors when TurboTax runs Smart Check. I've tried manually deleting related info from the Forms view but unsuccessful so far.
Also, if it wasn't a value that rounded down to zero then what? It seems like TurboTax expects that I'd have to input information on my personal business that doesn't exist. This doesn't seem correct.
An IRS form 1099-MISC reporting small amounts not related to a self-employment activity would likely be reported to other income. Provide more details and the steps for reporting such an entry can be provided.
Rather than delete the Schedule C information in FORMS view, have you tried to delete the Schedule C in the step-by-step process?
In TurboTax Desktop, you may find the incomplete Schedule C information by following these steps:
You may also review where you entered the 1099-MISC form in the step-by-step process to make sure that the form has been removed.
Thanks for the response James. I do not have a "Business" option, I assume because I'm using the Deluxe version? I've removed the 1099-MISC from the "1099-MISC and Other Common Income" section under the Federal Taxes tab and still had 10 errors listed when I ran Smart Check. I finally figured out that I could delete the Schedule C worksheet in the Forms view. The software automatically created a new blank Schedule C form (previously it had an entry for Miscellaneous Income of $0 that I could not manually delete) but this seems to have resolved the issue and no errors come up now.
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