I'm using Photoshop CC. So I followed this tutorial here (and about 3 more like it) but I cannot get my text cursor to make that little shape. And clicking anywhere inside the box doesn't help either. Please help if you can, I'm going kinda nuts here. Everything I've read says this should be rather easy!!
You have to operate the controls in the proper order, but it can be made to work with Photoshop CC 2014. I just did it.
Here are the exact steps I followed:
Only quirkiness I saw was that I found it was necessary to choose Subtract Front Shape AFTER drawing the ellipse.