Do I need to report a capital gain as I refinanced a foreign mortgage and how do I do it in TurboTax?

In 2015, I paid off a mortgage of approx 7,000,000 Danish Krone = 1,000,000 USD but did not sell the home.

When I initiated the mortgage in 2011 due to a different exchange rate at the time it was equivalent to 1,250,000 USD.

Question 1: Does this mean I am liable for tax on a 250,000 USD gain?

Question 2: How should I report it in TurboTax to ensure the right tax rate?

Thanks