It's Definition

ĭts
contraction
It is.
Webster's New World
It has.
Webster's New World
(colloquial) There's, there is; there're, there are.
It's a fine line between love and hate; it's a package for you by the door.
Wiktionary

It is.

It’s too expensive; it’s coming right for us!
Wiktionary

It has.

It’s been a long time since I’ve had cheesecake.
Wiktionary
adjective

(now nonstandard) Alternative form of its.

Wiktionary

Origin of It's