That is correct.
For a dependent student, the Taxpayer claiming the student enters all the education information (1099-Q if they used a 529 savings plan and 1098-T) into their TurboTax program so that TurboTax can do the math.
If there is an education credit, the Taxpayer claiming the student (usually the parents) get the credit.
If there is income to be reported, the student needs to claim the income. the parents program will say how much the student needs to claim if this is the case.
BE AWARE that the program may suggest that the student claim scholarships as income if by doing this the "Freed-up" education expenses give the parents a better education credit.
Go through the entire education interview until you click "Maximize My Tax Break".
If you want to change the credit TurboTax chooses for you, type letme into the search-box and then click the "Jump to letme" link.
IRS Pub 970
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