This would be the price you paid for your home and then as part of that price, what is the value of your land. TurboTax will subtract the land and get the cost for the building or improvements. If you use a building for business use, or for rental use, the wear and tear makes it less valuable so the IRS allows depreciation, or a portion of the value each year as an expense for the business. If this is for a home office, it will only be applied to the portion of your home used for the home office.
When you sell your home, the IRS will recapture the depreciation and expect you to subtract that amount from the original cost of the home, or basis. They will do this whether you have actually claimed the depreciation on your annual tax returns, so it is important to account for this so you do not owe extra tax when you sell the property.
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