Taxes for new landlords

[David Gold]

I wanted to assess tax implications for potentially renting out a home which has a mortgage.

I am new to this and have not talked to a CPA or Tax guy yet, but wanted to get a general idea if possible, from the experts on this forum. Please bear with me.

If I rent out the property for $1000 and the mortgage is $500. Will the IRS tax me on the full $12k as income or $12k minus the mortage payments of $6000?

In other words can the mortgage payment be considered an expense?

Thanks