Yes, report it as capital gains.
In your specific case, you would:
If it's business property, you should report it in the sale of rental property in the Rental section.
If it's personal property:
1. Go to Your 2016 Income Summary.
2. Go to Less Common Income.
3. Click Start or Update by Installment Sales.
4. Enter the property information.
5. Enter the dates and prices.
6. On the How was this item used screen, answer Yes or No.
Step through the rest of the screens to accurately describe your property.
If you held it for personal use, then it gets reported on Form 6252, Installment Sale Income and is taxed at 20%.
If you held it for business, then it gets reported on Form 4797, Sale of Business Property, and is taxed at 20%.
