How do you know which one is the right one to use? It's, its or its'?

Question

Which one means that something belongs to or is owned by "it"?

Which one means "it is"?

Which one means "it has"?

And is "its'", with an apostrophe after the s, ever actually used? If so, what for or when?

Microsoft Word is currently driving me crazy, because what I think is right is obviously wrong, but I can't work out from their suggestions what the rules are. So please help me.

Answer 1

It's is a contraction for "it is" or "it has."  

"It's (it is) going to rain today."

"It's (it has) been said that he'll never give up."

Its is possessive. "The dog chewed up its toy."

I've never seen anyone use its'. The apostrophe at the end is used for plural possessives and since "it" refers to only one thing, it's unnecessary.

Answer 2

it's can either mean "it is" or "it has"

Answer 3

Ok. It's is short for it is. As in it's a nice day.

Its is used when something belongs to someone. As in the baby spat out its dummy.

Its' is never used, I don't know where you heard that one!?  

Answer 4

ITS!!!!!!!!!!!!!!!!!!!!!!

Answer 5

possessive is its

It is = it's

"it has" as a contraction is not correct it's more of a speech slang, you'd never write it.

its' is also not proper grammar