It Depends.
Form 1098-T reports what was paid to the school, (Box 1) and the financial aid that was awarded to the student through the school (Box 5).
Basically, if what was paid to the school (Box 1) is MORE than what was received in Financial Aid (Box 5) there would be no tax due on Scholarship Income and the Taxpayer could get a tax credit.
Form 1098-T is "Informational" to HELP you decide if you need to claim any taxable income or if you may claim an education credit.
If you are a dependent, whoever claims you can claim the credit, but if there is any taxable income, you would claim that income.
Without more information, it is not clear whether you need to amend last year or if the 1098-T can be used for getting an education credit.
TurboTax does have an interview concerning education expenses and scholarships/grants which you can go through to learn more.
IRS Pub 970 explains the ramifications of education expenses and funding in detail.
Your school financial office should provide guidance,
AGAIN, if you are a dependent, give the 1098-T to the Taxpayer who claims you.
If you are not a dependent, financial aid which exceeds education expenses (Tuition, Books & Supplies) is taxable income.
If you are not a dependent, education expenses (Tuition, Books & Supplies) which exceeds financial aid could be used to claim a credit.
Student loans are the same as you paying since a loan is not financial aid.
IRS Pub 970
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