For context, I am a student with no income and only federal loans in 2019.
That means that you personally have no earned income that you are required to report to the IRS.
On my 1098T this year specifically, I received a $3000 scholarship towards my tuition.
I assume you were an undergraduate under the age of 24 on Dec 31 of 2019.
Unless you personally are the *primary* borrower on the student loans *and* they are "qualified" student loans "and" a sufficient amount of money was distributed to you from the loan in 2019, to justify you providing more than 50% of your own support, then two things:
1) You have no need to file a tax return for 2019 at all.
2) You qualify to be claimed as a dependent on your parent's tax return. Therefore your parents (not you) will report the 1098-T on their tax return.
If borrowed money and scholarships is your only source of income for 2019, and the amount in box 5 of the 1098-T is smaller than the amount in box 1, there's no need for you to file a tax return at all. You don't qualify for any education credits at all. In order to qualify for the education credits, you must have "earned" income. Based on the information you've supplied, you don't have any earned income for 2019.
Subsequently, when entering my 1098T information into Turbo Tax, the completed tax return lists my AGI as NEGATIVE $4,000.
That's because you have no earned income and therefore don't qualify for any of the education credits. This is an indicator that you do not need to file a 2019 tax return at all.
