Is there an actual word for "it" in Spanish?
Or do you only use demonstrative pronouns like éste, ésa, and aquél?
6 Answers
"Lo" and "la" mean "it" only for the direct object.
"Lo tengo aquí" means "I have it here"
When "it" is the implied subject, it just gets left out. "No es bueno" means "It's not good."
If you type in "it" at this dictionary, you'll see "1. (subject) (usually omitted in Spanish)"
"It" is "lo" if it's masculine and "la" if it's feminine.
If you type in "lo" in the dictionary, you will see different ways to use it.
Not only is geofc correct with his mention of "Claro que lo es", but I hear "Lo sé" (I know it) all the time, often in cases when we would merely say "I know" without a direct object pronoun in English. "It" definetly exists, but in Spanish there are different cases where speakers tend to use it than in English. Another example would be a phrase like: "Lo de ayer fue divertido" - "It was funny yesterday". It is true that one thing the two languages have in common is the occasional use of "it" as the subject of a sentence when the subject is quite vague, but it takes some experience to realize when the use of "it" is required in Spanish.
In principle, this site is dedicated to the eradication of subject pronouns. I don't know why but this means that you simply never use "it" as a subject; it is implied in the verb. However, the last time I got involved in this discussion, I pointed out that "Claro que lo es" appears all over the place, using "lo" as the subject of a simple sentence with the meaning "it".
You don't need to say "it" when it is the subject- it is built into the verb. But, if you really want to know, look at the dictionary entry for "it". It has just about every way you could use it. 
Even as the subject of the sentence?
