Correct. I am assuming you are referring to with Schedule 1 line 24b not 24c? Since you are renting to a relative below FMV, it is considered personal use, not for profit. That means, this is treated just like it is your home. You cannot include expenses in a way that will reduce the income. This is similar to hobby income. You must report the income, but you cannot claim the expenses associated with the income.
If you want to be able to deduct expenses next year, you would need to raise the rent to FMV and treat them as you would a stranger. Then you would be able to deduct the expenses associated with the income as it would all be reported on Schedule E.
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