<p>
Personal property isn’t counted as assets IIRC.</p>
<p>
You only get to deduct them because that’s the tax law that Congress voted in, not because there is some inherent “correctness” about the deduction.</p>
<p>A private school is under no obligation to follow the tax code as to the definition of income and what deductions you can take against income.</p>
<p>Look at it this way:</p>
<p>You take a second job that pays you $2000/month in wages. You have to buy $500 worth of suits because the job requires it, and you drive 5,000 miles a year to get to this job.</p>
<p>or</p>
<p>You buy a rental property that pays you $2000/month in rent. You have to buy a $500 refrigerator to rent it, and you drive 5,000 miles per year to manage the property.</p>
<p>Both give you $24K/per year in income. You don’t get to deduct your clothes or your mileage from your income for a job. But you do get to deduct the fridge and the mileage for the rental.</p>
<p>That is because the tax code treats these situations differently. Why should the school? As far as they are concerned you have an extra $24K in income. Your expenses are not their problem.</p>