What is accumulated depreciation?

Accumulated depreciation is the total depreciation applicable to a business asset during the years it was used in a business. For instance, a rental house that cost $200,00 would be depreciated over 27.5 years, so the annual depreciation would be  $7,272 ($200,000 divided by 27.5). If you rented the house for two years, the accumulated depreciation at the end of the second year would be $14,544 ($7,272 times two years).

You would have to look at the asset entry worksheet in TurboTax for the asset you are dealing with to find the accumulated depreciation. If you are dealing with a vehicle, you would look on the car & truck Wks. The accumulated depreciation would be the prior depreciation added to the current depreciation, on lines 37 and 38 of the car & truck worksheet and lines 10 and 11 of the asset entry worksheet. It should be with your papers you printed out from your tax return in the previous year. Also, the depreciation is reported on Schedule 4562 each year, so you may be able to look at that for each year the asset was in service to see how much depreciation was claimed on it, but that may not be practical if you depreciated several assets.