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They use the form for education credit on their return. If you have scholarships in an amount greater than qualified education expenses the difference is income on your return assuming that you have to file one.
If it generates a credit, your parents use it to claim a credit.
If it generates taxable income, you need to claim the income.
Your parents can enter the 1098-T into their TurboTax program and the program will report which way it should be reported.
There's even a loop hole available for the parents to claim the credit, if the student is on scholarship.
For details, see: https://ttlc.intuit.com/community/college-education/discussion/yes-that-is-a-tax-loophole-available-...
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