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If you rented out a property all year for less than fair market value, it is treated as a personal residence, not a rental property.  It is other reportable income and you can only deduct the same expenses you can deduct for your primary personal residence - on Schedule A.   @lasher10 

You can't take rental expenses on a property for any day you rent out at less than fair market value.   You may be able to deduct mortgage interest and property taxes as you do on your primary residence if you itemize - On Schedule A, but no rental deductions on Schedule E.  

If you want to claim the rental deductions, be sure the rate you charge your tenants is roughly equal to comparable properties in the same area.  Contact brokers or real estate agents for an appraisal of your property.   

If you do choose to rent the property to a friend or relative below market value, be sure to reflect this on your tax return.  You will still be able to claim property taxes on the property, as well as your mortgage interest if the rental is your secondary property.   These Schedule A deductions are entered in the Deductions and Credits section under the Your Home section.   

You don't need premier if you are not using Schedule E.   You can Clear and Start Over to go back to Deluxe.