Line level is what you can feed into AUX input of an amp - phono level is raw output from the turntable and needs to go either into a pre-amp or a phono input on the amp.
So you can connect the red and white outputs to the inputs on the AUX channel, put the switch on to line, and all will be good. Or if you get an amp with a phono channel, connect to that and put the switch to phono (might be worth trying both options if you have a phono amp - if the turntable has a better pre-amp than the amp, then it would be better to use that).