For almost every photo, 4:5 at 1080×1350 is the right answer. It is the tallest shape Instagram has always shown uncropped in the feed, so it takes up the most screen, and it only loses a thin strip from each side in the 3:4 profile grid that Instagram switched to in January 2025.
Instagram added native 3:4 (1080×1440) in May 2025. Use it when you want the post to fill the grid exactly, or when the photo came straight from a phone camera, which shoots 3:4 anyway. The feed shows it slightly cropped on some app versions, so keep faces away from the very top edge.
Square (1080×1080) still works and is the easiest crop for product shots and logos, but it looks small next to portrait posts. Landscape (1080×566) is only worth it for panoramas and screenshots; on a phone it renders as a narrow strip.
Rule of thumb: 1080 px wide, 4:5 or 3:4, JPEG between 500 KB and 1 MB, sRGB colour. That combination gives Instagram nothing left to resize.