Hello,
CoralNet calls this the "annotation area". You can set an annotation area on the source level or on an individual image basis.
1) For a source, if you go to Admin > Edit Source Details, you can set a default image annotation area for your source. This is specified as percentages, so for example, you can crop out the left 20% of the image and the right 22% of the image, and you can also pick percentages for the top and bottom. This default will be applied for any images you upload to the source from that point on.
2) For an individual image, the "Annotation and point location status" section will have an "Edit" link next to the Annotation area, as long as the image's annotations haven't been confirmed yet. This takes you to a graphic interface where you can edit the annotation area for that image, and this gives you pixel precision instead of just percentages.