Here is the bottom line. If your son is simply reimbursing you for his expenses such as utilities, laundry, food, etc., then this is not rent.
Rent is considered income, however, in your situation you would be allowed to deduct expenses attributable to the rental income which would zero it out per your initial discussion. Since you are not renting for a profit, then you would be limited on the deduction of expenses to the amount of rent received. This means there would be no excess deductions allowed to offset other income on your return. Expenses are limited to the amount of rent received.
How do I know you are not renting for a profit? At the rate of $300 per month it's highly unlikely that would be considered fair rental value in your area when comparing to a similar situation. Any rent charged that is below fair rental value in the area where you are is considered a 'not for profit rental'.
If you want to report it as rent and report the expenses you pay with it you can do that to show no profit or loss.
@lilmisscrzygrl
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