Interest Earned on Loan and reporting

I have loaned money and earn interest. So my question is what Form, I need to send to Borrower, IRS and my Tax filing purpose.

 

Do I need to send 1098 form to Borrower ?

and

I need to report my income in Sch B ?

Is there anything else from reporting side and what about any expenses which I have paid towards it , can I deduct those expenses ?