Rental Property Income

[TaxesRBad]

Greetings!

I closed on purchasing a home in December of 2021 and lived there for a little over two years. This year I decided to move into my girlfriend's house and rent my house to a very close buddy of mine. I only charge him in rent the EXACT amount I owe on my mortgage every month. So is this money I receive from him considered income even though I make absolutely no profit from it? If it is taxable, is there a way to minimize taxes owed and does that way necessitate itemization or can it be utilized if taking a standard deduction every year?

Thanks for your time! 

-Justin

[BeckyLeeH]

Rental income is reported on your tax return by including in your gross income all amounts you receive as rent. This includes any payment you receive for the use or occupation of property, and is not limited to amounts received as normal rental payments. You must report rental income for all your properties. For more information, please refer to: 

Where do I enter income and expenses from a rental property?

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-income-ex...