On a Sch E you will enter the rental income and the expenses along with the BASIS for depreciation. If you are a new landlord I highly recommend you do more research (read the Sch E instructions and all of the pub 527 along with the form 4562 & it's instructions so you understand basis and the depreciation you must take. POINTS are not added to the basis of the property but are amortized over the life of the loan.
Or use a paid tax preparer so you get started on the right foot and get educated.
