Question

I have this code below. How can I set a cell value to = whats looping through that value?

Sub Test2()
      ' Select cell A2, *first line of data*.
      Range("A2").Select
      ' Set Do loop to stop when an empty cell is reached.
      Do Until IsEmpty(ActiveCell)
         ' Insert your code here.
         ' Step down 1 row from present location.
         ActiveCell.Offset(1, 0).Select
      Loop
   End Sub

Answer 1

My answer will better look like a comment but it is too long to fit in a comment (and cannot be formatted properly).

How to loop over a range

I advise you to have a look at Chip Pearson page about optimizing VBA, especially looping over range in VBA.

When you loop over range, you shoul use the for each statement as described in this example:

Dim WS as Worksheet
For Each WS In Worksheets
    MsgBox WS.Name
Next WS

Dim i as Integer
For i = 1 To Worksheets.Count
    MsgBox Worksheets(i).Name
Next i

Finding the last empty cell

Your code seems to try to find the last empty cell. You can do it easily with

With ActiveWorkbook.Worksheets("Sheet1")
    .Cells(.Rows.Count,1).End(xlUp)
End With

You can find some more tips on ozgrid (even if they don’t use rows.count)

Avoiding Selects

Your code will be very very slow if you are trying to Select every cell in a loop.

You’d better use the object model of VBA.
For instance, if you only want to copy the value of a cell:

Don’t do

Range("A1").Select
Selection.Copy
Range("A2").Select
Selection.Paste

Do

Range("A2").Value = Range("A1").Value