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QUICK ANSWER
"It's" is a form of "it's", a contraction which is often translated as "es". "I am" is a form of "I am", a phrase which is often translated as "soy". Learn more about the difference between "it's" and "I am" below.
it's()
A contraction is a shortened form of a word or group of words made by omitting a sound or letter (e.g., don't).
I am()
A phrase is a group of words commonly used together (e.g., once upon a time).
