Set to Isometric

In AutoCAD 2000 or higher, right-click the SNAP toggle in the Status Bar.

Select (x) Grid snap and (x) Isometric snap

You could also type SNAPSTYL and set it to "1"

Now, set the (x) Polar snap on and set the Polar Spacing. If you think you will be
using the grid, set the Grid Y spacing to the same number.

Under the Polar tab, set [x] Polar Tracking On and select the Increment angle 30
degrees from the list.

(x) Track using all polar angle settings and (x) Absolute.
Try to draw a box like this:

Change the Isometric Plane

In AutoCAD, use [F5] to toggle through the isometric planes.
In the picture above, you see the cursor set to the <Isoplane Right> setting.

The crosshairs will switch to the different sides of an imaginary box. You will also
see which isoplane you are on from the messages that appear on the command line
and by the cursor crosshairs. If you imagine the crosshairs being the centerline of
a circle, which side of the box would the circle be on?

Draw an Isometric Circle

To draw a circle in Isometric, start the EL Ellipse command. While you have the
Isometric Snap turned on, AutoCAD gives you an additional selection of "Isocircle".

For greater accuracy in placement, turn OSNAP MIDpoint, ENDpoint and OTRACK
On.

Command: EL ELLIPSE
Specify axis endpoint of ellipse or
[Arc/Center/Isocircle]: I
Specify center of isocircle: <Pick Point>
Specify radius of isocircle or [Diameter]: <Pick
Point>
Command:

The isocircle will align itself to the Isoplane side that is currently active.

Drawing a vertical tank is done with isoplane top active.

You may have to switch to another isoplane before copying the top and drawing the
vertical lines.
Draw Iso Text
In AutoCAD, start the ST Style command and create two text styles... ISO30 and
ISO-30. Set the angle of ISO30 to 30 degrees (positive). Set the angle of ISO-30
to -30 degrees (negative).

Start the DT Dynamic Text command and start typing your label. You will have to
rotate the text into position. Once you create a correct label, you can use MA
Match Properties to copy the rotation and text angle to a plain piece of text.

To draw Isometric Dimensions

To create isometric dimensions in AutoCAD, you need to first use DDIM to create a
dimension style for ISO1 and ISO2 (or ISORight and ISOLeft, etc). Assign these
two dimension styles the text styles you created earlier (ISO30 and ISO-30). See
"Draw Isometric Text" above.

The two styles ISO1 and ISO2 will alternate around the box, and the text should be
aligned 30 degrees to the right then 30 degrees to the left.
Now, start the DAL Dimaligned command and type in all the responses you see
here:

Command: <Osnap on> (set to ENDpoint)

Command: DDIM (set to ISO1 dimension style)
Command: DAL _.dimaligned
Specify first extension line origin or <select
object>: <P1>
Specify second extension line origin: <P2>
Specify dimension line location or [Mtext/Text/Angle]:
<P3>
Dimension text = 4'-1 5/16"
Command: _.setvar Enter variable name or [?] <CLAYER>:
textsize
Enter new value for TEXTSIZE <0'-4 1/2">:
4.500000000000000
Command: _.setvar Enter variable name or [?]
<TEXTSIZE>: textstyle
Enter new value for TEXTSTYLE <"DIM">: ROMANS
Command: _.setvar Enter variable name or [?]
<TEXTSTYLE>: cmdecho
Enter new value for CMDECHO <1>: 0
Command: DIMEDIT
Enter type of dimension editing
[Home/New/Rotate/Oblique] <Home>: O
Select objects: L 1 found
Select objects: <enter>
Enter obliquing angle (press ENTER for none): <P4>
Specify second point: <P5>