Yes, you would enter it under Sale of Business Property. This should have been on Schedule E, not Schedule C. Schedule C is used if you provide services such as a motel or bed and breakfast.
I'm curious as to how you got the depreciation to be straight-line over27.5 years. If you took losses you were not entitled to, since rental property produces passive income, you should see a professional and file Form 3115.
Steps for Sale of Business Property
1) Wages and Income
2) Other Business Situations
3) Sale of Business Property
4) Other Property Sales
5) Select Sales of Business or Rental Property that you haven't already reported
Below are the IRS links related to the change in accounting method. TurboTax does not have that form.
May be these will help
Form 3115, Application for Change in Accounting Method
Change-in-Accounting-Method
Instructions for Form 3115 (03/2012)
Instructions
Form 3115,
Form 3115
