Listed Property generally refers to property that could be used for personal and business purposes. For listed property, the business use must be over 50% for the taxpayer to claim the Section 179 expense or the accelerated depreciation, MACRS.
In TaxAct, the "business-use percentage" dictates whether or not property is considered listed property:
Per IRS Instructions for Form 4562 Depreciation and Amortization (Including Information on Listed Property), on page 2:
Listed property generally includes the following.
Exceptions. Listed property does not include:
For purposes of the exceptions above, a portion of the taxpayer's home is treated as a regular business establishment only if that portion meets the requirements for deducting expenses attributable to the business use of a home. However, for any property listed in (1) above, the regular business establishment of an employee is his or her employer's regular business establishment.
Please also refer to IRS Publication 946 How to Depreciate Property.
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.