null reference exception when trying to access game object

I am trying to figure out how to instantiate a game object, save it off as a variable, and then access that variable so I can reposition it by accessing the transform. The first two steps I did seem to work fine, but the third step of trying to access the variable gives me a null reference exception.

I am not understanding something about saving off game objects or am I just missing some syntax?

Thanks in advance for any help!

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using UnityEngine;
using System.Collections;

public class TinkerTest : MonoBehaviour {

Transform newClone;
public Transform testObject;

// Use this for initialization
void Start () {

Transform newClone = Instantiate(testObject, new Vector3(5, 0, 0), Quaternion.identity) as Transform;

}

// Update is called once per frame
void Update () {

if (Input.GetKeyDown(“1”)) {

newClone.transform.position = new Vector3(0,0,0);

}

}
}

You are declaring newClone twice.
Try this

// Use this for initialization
void Start () {

newClone = Instantiate(testObject, new Vector3(5, 0, 0), Quaternion.identity) as Transform;

}

Haha, wow, everyday, I realize more and more how much of a noob I am at scripting still.

Thanks a bunch!