Yes, edit is a Scrabble word!
...and is worth 5 points in Scrabble, and 5 points in Words with Friends
edit
Verb
1. Prepare for publication or presentation by correcting, revising, or adapting
2. Supervise the publication of
3. Cut and assemble the components of
4. Cut or eliminate
What Scrabble words can I make with the letters in edit?
4 Letter Words
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3 Letter Words
2 Letter Words