Listed property refers to a specific type of depreciable property that is used primarily for business purposes but can also be used for personal use. To be considered listed property, an item must be used for business purposes no less than 50% of the time, and it is subject to a special set of tax rules for the taxpayer. Examples of listed property include vehicles, computers, recording equipment, and cell phones.

If the business-related use of a listed property is more than 50% in a tax year, the property can be treated the same as any other business asset. But if business-related use is less than 50%, the asset is not considered predominantly used in a business, and the ADS straight-line depreciation should be used to count the deduction. This is called the predominant-use test.

Because a listed property needs to pass the predominant use test to decide if it can be treated as other business assets, the user needs to maintain detailed records of the use of the listed property, such as the mileage of a vehicle used for the business, and the record should also include the expenditure related to the asset, such as cost of the property, repairs, insurance, and others.