<p>You are not looking at this from the school’s point of view.</p>
<p>You could reasonably view a refrigerator as an expense that is accounted for over multiple years by taking a depreciation deduction, but the Profile doesn’t really care about about how you invest your assets, it cares mostly about this year’s cash flow.</p>
<p>If I take $500 and buy a fridge (or a car or anything), my assets are reduced by $500, and this shows up on the Profile in the asset section. It doesn’t affect your gross income in any way.</p>
<p>Why should the school give you an income deduction for your decision to invest in an asset?</p>
<p>You don’t get a deduction from your income on the Profile if you buy a fridge for your own house, why should the they give you one if you buy a fridge for a rental?</p>
<p>You could say “well I have to spend that money in order to make money from the rental”, that could apply to lots of things - you have to make car repairs to your car so you can get to work, but you don’t get a deduction from your income on the Profile for that. You don’t get to deduct mileage for driving to your job, either. So why should you get to deduct that on the Profile for your rental?</p>