You may be measuring your image in inches for printing or display purposes, but its size in pixels is 3342x4767.
I have created a new file with square measurements of 1080x1080 and placed your image in the new file with the following result.

Since Instagram was originally built on a square image platform, I am assuming that there will be no cropping of the original image if you use this size. If you are seeing some cropping when you post the image, please give us a screenshot. If this is not what you are trying to do, please give us more of an explanation of the problem.
And how are you transferring the image from your computer to Instagram?