It could be right.
If the amount of the distributions on the 1099-Q forms plus the amount of scholarships on form 1098-T box 5 matches (is as much or less than) the amount on Form 1098-T box 1 (tuition and fees) plus room and board, the expenses would offset the taxability of the distributions and scholarships.
In this case, nothing needs to be reported, nothing needs to be entered in the TurboTax programs
HOWEVER
please be aware that sometimes there an option for the Taxpayer that claims the student to claim an education credit if the student can claim some of the distribution. Usually the tax on the distribution is less than the amount of the credit.
IRS Pub 970 explains how this might be possible
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