Hey Pete, welcome to the forum!
Yes, any income that you receive "should" be declared on your taxes. However, since you'll be declaring rent income, you can claim home expenses as well. That is, if the rental room is 25% of the livable space of your house, then you can claim 25% of the mortgage interest, property tax, insurance, maintenance.
I've written about this topic before: rental property income taxes and deductions
Yes, any income that you receive "should" be declared on your taxes. However, since you'll be declaring rent income, you can claim home expenses as well. That is, if the rental room is 25% of the livable space of your house, then you can claim 25% of the mortgage interest, property tax, insurance, maintenance.
I've written about this topic before: rental property income taxes and deductions