TurboTax tracks accumulated depreciation and will confirm that figure when you go through the Step-by-Step procedure for disposition in the program.

However, you should keep track of your accumulated depreciation outside of TurboTax.

If, and ONLY if, you use TurboTax and file a SCH E every single year, *and* you import from the prior year's turbotax file every single year also.

However, a vacation rental can be either a SCH C business or a SCH E business, depending on the fine details of how it's run. For most, if they use AirB&B they report on SCH C if all the required conditions are met because for tax purposes they are treated exactly like a hotel. Getting this right can be especially important if your state taxes personal income too.

But regardless of how you report, depreciation still occurs. But for business property reported on SCH C a completely different MACRS depreciation schedule is used. Therefore if you are unsure on this, I would suggest you get with a tax professional in your local jurisdiction to get education on this. Please take note that there is a difference between a CPA and a tax professional. A CPA is more knowledgeable in preparing tax returns, while a tax professional is more knowledgeable in tax law.