| REASON TO BELIEVE - V1a (take 1) | 4:00 | LM-1 |
| REASON TO BELIEVE - V1b (take 1) | 4:02 | NEBRASKA |
| REASON TO BELIEVE - V1c (take 1) stereo mix | 3:56 | NEBRASKA |
| REASON TO BELIEVE - V2 (take 2) | uncirculating | |
| REASON TO BELIEVE - V3 | 3:34 | circulating |
| REASON TO BELIEVE - V4 | 0:50 | circulating |
| REASON TO BELIEVE - V5 | 3:38 | NEBRASKA82: ELECTRIC |
Note: Springsteen recorded two complete recordings at his home in Colts Neck between December 17, 1981 and January 2, 1982, but only one has surfaced, which is take #1. This take circulates in three different mixes, and the second (unused) take has an extra verse. Inspired by Springsteen's own experience driving down Highway 33 on his way to Millstone, a township in Monmouth County.
V3 is a full-band rehearsal (missing the opening lines) of a new electric arrangement recorded on April 15, 1982. This performance is a work-in-progress, with some lyrical variation including an extra third verse. This may be the same verse used in V2. The first verse is sung by Springsteen alone accompanied by electric guitar, before drum and bass join in for the rest of the song. Max Weinberg's driving beat features throughout. V4 is a short take of just the second verse. These two rehearsal takes entered circulation in October 2025. V5 is multiple studio takes from April 27–28, 1982 at Power Station, likely with the E Street Band. The result is officially released in October 2025 on Electric Nebraska, recorded on April 27 in a similar arrangement to the April 15 rehearsal.