The conventions regarding it's and its have changed over the centuries, but today the distinction is clear. It's with an apostrophe is a contraction of "it is" or "it has."
it's fine
since it's been raining
Its without an apostrophe means "of or relating to it or itself."
a cat licking its paws
on its own
Love words? Need even more definitions?
Merriam-Webster unabridged





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