Hello Maverick 'Were' in 'If I were you' is the past subjunctive form of the verb 'to be'. It's 'were' in all persons. You use it for improbable or unreal situations: 1.
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Why the correct form is "If I were you\if I were it" and not "was"? Doesn't the verb "to be" refer here to I\it?
Or as a result of substituting "you", it must become plural? What about it?
Googled:
If I was - 3.4 million hits
versus
If I were - 4.43 million hits