Partnership - Rental house

[oceanlovin'ea]

Partnership purchased a house for rental in December. My question is regarding the closing statement.

On a personal return, the points paid are deductible. What happens to the points on the partnership's rental house? At first I thought they were not deductible as that is all the basis in the house.
Then I was questioning whether the points would pass through to the partners.

HELP

Linda F

[Gretel]

The points should be amortized over the life of the loan and therefore will be an expense on the partnership return.

By the way, the same is true on an individual return if it is rental property.