Thanks, Jovan and Amber. Your answers are really helpful.

Yes, a wastebasket is small and found within the house (the bathroom, for example). A garbage can can be inside or out, but many people tend to use "garbage can" for outside and "trash can" for in. Note that these are both Americanisms. In the UK, they're called rubbish bins or just bins...regardless of where they're kept.

A garbage can could be both outside or inside the house (or office) and can be big or small. The wastebasket is small and is not found outside. Hope that helps!