Payments received for below-market rent are considered "Other Income." Depending on which version of TurboTax you are using, this topic can be found under Wages & Income >> Less Common Income >> Miscellaneous/Other Income.
The easiest way to find any section of TurboTax Online is to go to Tax Tools in the left column >> Tools >> Topic Search. Type in your topic, click the topic in the list and then GO to go directly to the start of that section.
In TurboTax Desktop, use the Search box or Topic List found in the header.
Note that you can offset this income by the expenses necessary to maintain the property (report the net income). Mortgage interest and property taxes are reported as Itemized Deductions under the Your Home topic.
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