Yes, you are correct to enter zero for prior depreciation if you did not report depreciation expense for the property on prior tax returns.
Although TurboTax will calculate a larger amount of depreciation expense for the current and future years, in order to "catch up" to the allowable depreciation, you would need to file an amended return for each year that you failed to include depreciation expense. Note that the period to file a 2012 amended return has passed. You may file an amended return for 2013, 2014, and 2015 only.
Also, be advised that when you sell the property, you must report all depreciation that was allowed over the period you owned the property, even if you did not report the expense in every year. Depreciation is included in the calculation of the capital gain or loss on the sale; more depreciation usually translates into more gain. This may not be a factor for many years, however, depending on how long you retain ownership.
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