Creating NTFS partition for Windows 7 install

I recently purchased the Windows 7 OEM version and tried to install it today, but it says I need a "NTFS" partition. How do I go about creating a NTFS partition? I am running Ubuntu right now also. If anybody can guide me through this I'd very much appreciate it.
 
If you install using the custom install Windows will allow you to select the partition you want to install to. The custom selection will also allow you to format the partition before you install. If you do not have a partition alloted specifically for Windows, you will need to create one.

Please be careful when creating and deleting partitions, as one wrong move can be detrimental for your data.

Here is an application that I use to manage my partitions. - MiniTool Partition Wizard Home Edition
 
Either you destroy your existing Ubuntu partitions(s) or you shorten the biggest to create empty space. In the second case, after you install Win7 your Ubuntu partition remaining will not be accessible from Win7, and setting up a dual boot is not very easy. On the other hand, a bootable CD of Ubuntu is quite easy, so you could still boot into Ubuntu on occasion using that and access the ubuntu partitions and it's data that way (if you want to).
 
format the partition to ntfs with installation disc

Durning installing windows 7, the first step is to partition your hard drive, you could format one partition to NTFS.
 
To expand and merge correct responses from above, I'll try to get everything in 1 post:

Ubuntu first, then Windows is generally the reverse direction. Windows won't recognize the Ubuntu, but Ubuntu would have recognized Windows. In the latter dual boot works with no additional work, in the former you need to do more.

In Ubuntu, use gParted to shrink a partition, you'll want at least 20 gigs for Windows 7, possibly a lot more depending on what you plan on doing with it. Apply the changes and do nothing else, do not create a partition in the unallocated space, do not format it as ntfs, do not pass go, do not collect $200.

Windows 7 install will see the existing partitions AND the unallocated space, select the unallocated space and continue on. Win 7 will create the partition and format it as NTFS automatically before continuing on to installing itself.

Once 7 is installed, your Ubuntu will not boot (ie - you reboot the comp, it goes to 7 automatically). To get Ubuntu back, the easiest way (for me) is to download EasyBCD and then add your Ubuntu installation.
 
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