While in Edit Mode click you can click on your text to access the text box. You will need to select the specific text you would like to cut/copy.
While the mouse cursor is flashing in the text box hold down the left mouse button and drag the cursor to select text. The selected portion will turn red. Once you release your mouse button, the text will remain highlighted as long as you do not click elsewhere.
Right-click on this text and you will see the Cut and Copy options.
Cut will copy the information you have selected and also remove it from the text box. The information will be stored until you Cut/Copy something else. Copy will copy the information, but not remove it, from its current location.
To Paste your text first create a text box by double-clicking anywhere in your document.
Then right-click in the text box and choose Paste.