My son's name is on the deed as well.
No it doesn't change anything for tax reporting on the rental income/expense front. if you are the one who received all the income, then you are the one who has to report it, and claim all of the depreciation.
Things can get tricky on the tax front in the future when the property is sold or otherwise disposed of. But you'll deal with that when the time comes.
The most important thing is that since you are reporting all rental income/expenses on your tax return, you *must* keep a record of the depreciation taken, because that will matter in the future when there's any type of an ownership change. That includes doing a quit claim on the deed to gift your half of ownership to your son.
