If you want to install Windows on it and use the full capacity, you must
1. Use a 64 bit version of Win 7 or 8/8.1
2. Install in GPT mode (not MBR)
MBR was the standard for many years but is limited to 2TB; to install with a GPT partition you need 64 bit Windows and an EFI motherboard. Boot the install media (DVD or flash drive) in EFI mode and the installer should be able to use the whole drive