Simple answer: because that's the way English works.
I am -> I'm || I have -> I've
You are -> You're || You have -> You've
He is -> He's || He has -> He's
She is -> She's || She has -> She's
It is -> It's || It has -> It's
We are -> We're || We have -> We've
They are -> They're || They have -> They've
There is a certain amount of ambiguitity here, but the precise meaning can usually be determined by context. You'll notice that the same ambiguity exists with he and it is/has.
Furthermore, it's (it is / it has) can also be confused with the possessive its (note no apostrophe)!
There are no contractions (that I'm aware of) for was (the past tense). She was is always She was, but She had can be contracted to She'd.
Answer from Mike Harris on Stack ExchangeVideos
What is the difference between an abbreviation and a contraction?
What are contractions (words)?
What is the difference between a contraction and a portmanteau?
Simple answer: because that's the way English works.
I am -> I'm || I have -> I've
You are -> You're || You have -> You've
He is -> He's || He has -> He's
She is -> She's || She has -> She's
It is -> It's || It has -> It's
We are -> We're || We have -> We've
They are -> They're || They have -> They've
There is a certain amount of ambiguitity here, but the precise meaning can usually be determined by context. You'll notice that the same ambiguity exists with he and it is/has.
Furthermore, it's (it is / it has) can also be confused with the possessive its (note no apostrophe)!
There are no contractions (that I'm aware of) for was (the past tense). She was is always She was, but She had can be contracted to She'd.
Answer from Mike Harris on Stack Exchange