Place an extension ladder against the gable side of the house. Keep the ladder with two feet on the soffit.
Hold one end of a level where the gable end wall meets the soffit. Adjust it to read level. Mark a line on the gable wall by pulling a pencil along either the level's top or bottom edge.
Place a piece of siding against the gable wall with its top edge aligned with the level pencil mark. Slide the siding until its top corner sits against the bottom of the soffit. Place the bottom edge of a second piece of siding against the soffit. Draw a line across the siding -- sitting on the gable wall -- by pulling the pencil along the top edge of the siding, running across its face.
Cut along the line drawn on wood and composite siding with a circular saw or use a siding shear to cut along a line drawn on vinyl and aluminum siding. Ensure the cut is straight to keep the 3/12 pattern true.
Set the pattern on top of a full length of siding. Pull a pencil along the mitered end of the pattern. Remove the pattern. Cut along the line with the correct tool.