Yes, if you enter the information from the 1098-T and it results in taxable income, the TurboTax program will calculate the taxable portion for you.
Type education expenses into the search box and click on the "Jump to education expenses" link
Enter the 1098-T
Or
Click Federal on the left side-bar
Deductions & Credits along the top
Scroll down to Education
Enter the 1098-T
