Here's what I use:

Attachment Storage Directory: /home/mysite/public_html/forums/attachments

Full URL to Attachment Storage Directory: http://www.mysite.com/forums/attachments

In CP > Feature Settings > Attachments there is a link to check that the directory you specify works correctly.

On the server side (FTP) enter your forum directory and, in your case, create a new directory called uploads the CHMOD it to 777.