How to spell "its"

[Martin X. Moleski, SJ]

"It's" always and only means "it is."  The apostrophe indicates contraction, not possession.

"Its" always and only means "belongs to it."  The word is part of a class of words that indicate possession without the use of an apostrophe: my, mine, your, yours, his, hers, its, ours, their, theirs. 

A less common mixup is between "your" (belongs to you) and "you're" (contraction for "you are"). 

Typos happen.  I will assume that all misspellings of "its", "it's", "your", and "you're" are accidental and will correct them without comment or apology.