There are two "it"s in this sentence, but they refer to different things. Is this considered good English? If not, what's a better way to express the same meaning?
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It is grammatically fine to have two identical pronouns referring to separate antecedents, but it's not necessarily the best way to write:
While it's understandable and grammatically valid, it's not the clearest way to say it. It would be better to replace one of the its (choose the one whose antecedent is furthest away, i.e. cleaning the carpet), with an appropriate noun or noun phrase:
Yes, this is fine. The first it is a "dummy pronoun." It doesn't refer to anything and is there simply as a placeholder for the subject. The second it is, presumably, referential. No problems here.