You don't need to make the calculation. Enter the amounts as it is reported on form 1098-T in TurboTax, if box 5 exceeds box 1, TurboTax will treat the difference as taxable income, unless you enter additional qualified educational expenses.
To adjust your entries:
- Login to your account.
- Select Federal from the left menu.
- Go to Deductions and Credits.
- Scroll down to Education.
- Select revisit next to Expenses and Scholarships (Form 1098-T)
- On the screen Your Education Expenses Summary select Edit next to your name
- Select Edit next to the school name.
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