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I have a rectangle with a gradient on it. I want to be able to cut it in half so its like a horizontal tab.

How do I just cut a shape from a layer? I have tried marqee tool selecting the area and then hitting delete but the whole layer disappears :-(

I know this is possible I just dont know how... I would like it so that after the cut everything is removed apart from the shape (i.e. no white space) so that I can move it around...

Thanks!