To calibrate the TSC DC2700 please follow the below steps:
1. Turn off the printer.
2. Hold down the feed button while the printer is turned off.
3. Turn on the printer and keep holding down the feed button until the red light flashes three times* and then release.
*NOTE: The light will first flick red --> green --> off quickly before the three flashes begin.
4. The light will go solid green and 2-3 blank labels will print out which will need to be ripped off.
A demonstration of this can be found HERE.