Here is how to easily apply text to any curved surface in TinkerCad.
1: Draw text, resize, make sure text projects from cylinder.
2: Create box which surrounds text and cylinder, leaving text to project outside of new box.
3: Select text and change to hole.
4: With text selected, also select box and group.
5: Change this new group to hole.
6: Select all (box and original cylinder/object) and group.