In the Rental property section for the property, elect to start/update assets/depreciation. Select to go straight to your asset summary if prompted.
Select "Add an Asset" button.
Select Intangibles, Other Property and continue.
Select Amortizable Intangibles, continue.
For description, enter something like "Financing Fees'.
Enter the total amount of your loan acquisition fees.
Enter the date you closed on the loan, then continue.
Select None of the Above, then select that you've used it 100% for business, then enter the date you converted the property to a rental, or the date you closed on the loan: WHICHEVER IS LAST! and continue.
For Code Section, select 163: Loan Fees, then continue.
For Useful Life in Years, enter the length of your loan. Typically it's either 15 years or 30 years. Then continue.
You can view details if you like, but you're basically done once you click the continue button.
