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Once you have your In and Out points set out there are several ways to create your sub-clip
Click on the ‘Clip’ menu and choose the second option ‘Make Subclip Click "Command U" on the keyboard
Right click the Source Monitor and choose ‘Make Subclip…’ from about a third of the way down.
Name the subclip with scene and take # Uncheck the Restrict Trims to Subclip Boundaries so you can trim your subclips if you need
Subclip will load into your Project Bin and you can use it like any other clip.