Key points In vivo whole‐cell patch‐clamp recordings in cat visual cortex revealed small deflections in the membrane potential of neurons, termed spikelets. Spikelet statistics and functional properties suggest these deflections originate from a single, nearby cell. Spikelets shared a number sensory selectivities with the principal neuron including orientation selectivity, receptive field location and eye preference. Principal neurons and spikelets did not, however, generally share preferences for depth (binocular disparity). Cross‐correlation of spikelet activity and membrane potential revealed direct effects on the membrane potential of some principal neurons, suggesting that these cells were synaptically coupled or received common input from the cortical network. Other spikelet–neuron pairs revealed indirect effects, likely to be the result of correlated network events. Abstract Intracellular recordings in the neocortex reveal not only the membrane potential of neurons, but small unipolar or bipolar deflections that are termed spikelets. Spikelets have been proposed to originate from various sources, including active dendritic mechanisms, gap junctions and extracellular signals. Here we examined the functional characteristics of spikelets measured in neurons from cat primary visual cortex in vivo. Spiking statistics and our functional characterization of spikelet activity indicate that spikelets originate from a separate, nearby cell. Spikelet kinetics and lack of a direct effect on spikelet activity from hyperpolarizing current injection suggest they do not arise from electrical coupling to the principal neuron being recorded. Spikelets exhibited matched orientation tuning preference and ocular dominance to the principal neuron. In contrast, binocular disparity preferences of spikelets and the principal neuron were unrelated. Finally, we examined the impact of spikelets on the principal neuron's membrane potential; we did observe some records for which spikelets were correlated with the membrane potential of the principal neuron, suggesting that these neurons were synaptically coupled or received common input from the cortical network.