It depends.
If you did not pay any qualified education expenses including tuition and books out of pocket, you do not qualify for any education tax breaks. Therefore, you do not need to report your Form 1098-T.
However, if your scholarship only covers your tuition and you paid out of pocket money on your books and supplies, you should qualify for a partial education tax credit or deduction. To claim the benefits, in the TurboTax program, enter your Form 1098-T information, follow prompts to enter the other education expenses.
Here are the steps:
- Sign in to your account, select Pick up where you left off
- At the right upper corner, in the search box, type in "1098t" and Enter
- Select Jump to 1098t
- Follow prompts
Per IRS, if you have paid qualified education expenses and meet certain requirements, you may qualify for an education tax break including the American Opportunity Tax Credit AOTC, Lifetime Learning Credit or Tuition & Fees deduction. To see if you qualify, here are the links:
Qualified expenses
Deductions
Credits
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