diff --git a/lib/compiler/build_runner.zig b/lib/compiler/build_runner.zig
index 668c60361f..e2b8683609 100644
--- a/lib/compiler/build_runner.zig
+++ b/lib/compiler/build_runner.zig
@@ -750,7 +750,7 @@ fn runStepNames(
     if (run.prominent_compile_errors and total_compile_errors > 0) {
         for (step_stack.keys()) |s| {
             if (s.result_error_bundle.errorMessageCount() > 0) {
-                s.result_error_bundle.renderToStdErr(.{ .ttyconf = ttyconf, .include_reference_trace = (b.reference_trace orelse 0) > 0 });
+                s.result_error_bundle.renderToStdErr(.{ .ttyconf = ttyconf });
             }
         }
 
@@ -1129,11 +1129,7 @@ fn workerMakeOneStep(
         defer std.debug.unlockStdErr();
 
         const gpa = b.allocator;
-        const options: std.zig.ErrorBundle.RenderOptions = .{
-            .ttyconf = run.ttyconf,
-            .include_reference_trace = (b.reference_trace orelse 0) > 0,
-        };
-        printErrorMessages(gpa, s, options, run.stderr, run.prominent_compile_errors) catch {};
+        printErrorMessages(gpa, s, .{ .ttyconf = run.ttyconf }, run.stderr, run.prominent_compile_errors) catch {};
     }
 
     handle_result: {
diff --git a/src/Compilation.zig b/src/Compilation.zig
index 351b81c122..d3cf9e8f38 100644
--- a/src/Compilation.zig
+++ b/src/Compilation.zig
@@ -3328,7 +3328,7 @@ pub fn getAllErrorsAlloc(comp: *Compilation) !ErrorBundle {
     if (comp.zcu) |zcu| zcu_errors: {
         for (zcu.failed_files.keys(), zcu.failed_files.values()) |file, error_msg| {
             if (error_msg) |msg| {
-                try addModuleErrorMsg(zcu, &bundle, msg.*);
+                try addModuleErrorMsg(zcu, &bundle, msg.*, false);
             } else {
                 // Must be ZIR or Zoir errors. Note that this may include AST errors.
                 _ = try file.getTree(gpa); // Tree must be loaded.
@@ -3378,6 +3378,7 @@ pub fn getAllErrorsAlloc(comp: *Compilation) !ErrorBundle {
             break :s entries.slice();
         };
         defer sorted_failed_analysis.deinit(gpa);
+        var added_any_analysis_error = false;
         for (sorted_failed_analysis.items(.key), sorted_failed_analysis.items(.value)) |anal_unit, error_msg| {
             if (comp.incremental) {
                 const refs = try zcu.resolveReferences();
@@ -3389,7 +3390,9 @@ pub fn getAllErrorsAlloc(comp: *Compilation) !ErrorBundle {
                 zcu.fmtAnalUnit(anal_unit),
             });
 
-            try addModuleErrorMsg(zcu, &bundle, error_msg.*);
+            try addModuleErrorMsg(zcu, &bundle, error_msg.*, added_any_analysis_error);
+            added_any_analysis_error = true;
+
             if (zcu.cimport_errors.get(anal_unit)) |errors| {
                 for (errors.getMessages()) |err_msg_index| {
                     const err_msg = errors.getErrorMessage(err_msg_index);
@@ -3412,13 +3415,13 @@ pub fn getAllErrorsAlloc(comp: *Compilation) !ErrorBundle {
             }
         }
         for (zcu.failed_codegen.values()) |error_msg| {
-            try addModuleErrorMsg(zcu, &bundle, error_msg.*);
+            try addModuleErrorMsg(zcu, &bundle, error_msg.*, false);
         }
         for (zcu.failed_types.values()) |error_msg| {
-            try addModuleErrorMsg(zcu, &bundle, error_msg.*);
+            try addModuleErrorMsg(zcu, &bundle, error_msg.*, false);
         }
         for (zcu.failed_exports.values()) |value| {
-            try addModuleErrorMsg(zcu, &bundle, value.*);
+            try addModuleErrorMsg(zcu, &bundle, value.*, false);
         }
 
         const actual_error_count = zcu.intern_pool.global_error_set.getNamesFromMainThread().len;
@@ -3527,7 +3530,7 @@ pub fn getAllErrorsAlloc(comp: *Compilation) !ErrorBundle {
         // We don't actually include the error here if `!include_compile_log_sources`.
         // The sorting above was still necessary, though, to get `log_text` in the right order.
         if (include_compile_log_sources) {
-            try addModuleErrorMsg(zcu, &bundle, messages.items[0]);
+            try addModuleErrorMsg(zcu, &bundle, messages.items[0], false);
         }
 
         break :compile_log_text try log_text.toOwnedSlice(gpa);
@@ -3631,10 +3634,14 @@ pub const ErrorNoteHashContext = struct {
     }
 };
 
+const default_reference_trace_len = 2;
 pub fn addModuleErrorMsg(
     zcu: *Zcu,
     eb: *ErrorBundle.Wip,
     module_err_msg: Zcu.ErrorMsg,
+    /// If `-freference-trace` is not specified, we only want to show the one reference trace.
+    /// So, this is whether we have already emitted an error with a reference trace.
+    already_added_error: bool,
 ) !void {
     const gpa = eb.gpa;
     const ip = &zcu.intern_pool;
@@ -3657,45 +3664,44 @@ pub fn addModuleErrorMsg(
     var ref_traces: std.ArrayListUnmanaged(ErrorBundle.ReferenceTrace) = .empty;
     defer ref_traces.deinit(gpa);
 
-    if (module_err_msg.reference_trace_root.unwrap()) |rt_root| {
+    rt: {
+        const rt_root = module_err_msg.reference_trace_root.unwrap() orelse break :rt;
+        const max_references = zcu.comp.reference_trace orelse refs: {
+            if (already_added_error) break :rt;
+            break :refs default_reference_trace_len;
+        };
+
         const all_references = try zcu.resolveReferences();
 
         var seen: std.AutoHashMapUnmanaged(InternPool.AnalUnit, void) = .empty;
         defer seen.deinit(gpa);
 
-        const max_references = zcu.comp.reference_trace orelse Sema.default_reference_trace_len;
-
         var referenced_by = rt_root;
         while (all_references.get(referenced_by)) |maybe_ref| {
             const ref = maybe_ref orelse break;
             const gop = try seen.getOrPut(gpa, ref.referencer);
             if (gop.found_existing) break;
-            if (ref_traces.items.len < max_references) skip: {
-                const src = ref.src.upgrade(zcu);
-                const source = try src.file_scope.getSource(gpa);
-                const span = try src.span(gpa);
-                const loc = std.zig.findLineColumn(source.bytes, span.main);
-                const rt_file_path = try src.file_scope.fullPath(gpa);
-                defer gpa.free(rt_file_path);
-                const name = switch (ref.referencer.unwrap()) {
+            if (ref_traces.items.len < max_references) {
+                var last_call_src = ref.src;
+                var opt_inline_frame = ref.inline_frame;
+                while (opt_inline_frame.unwrap()) |inline_frame| {
+                    const f = inline_frame.ptr(zcu).*;
+                    const func_nav = ip.indexToKey(f.callee).func.owner_nav;
+                    const func_name = ip.getNav(func_nav).name.toSlice(ip);
+                    try addReferenceTraceFrame(zcu, eb, &ref_traces, func_name, last_call_src, true);
+                    last_call_src = f.call_src;
+                    opt_inline_frame = f.parent;
+                }
+                const root_name: ?[]const u8 = switch (ref.referencer.unwrap()) {
                     .@"comptime" => "comptime",
                     .nav_val, .nav_ty => |nav| ip.getNav(nav).name.toSlice(ip),
                     .type => |ty| Type.fromInterned(ty).containerTypeName(ip).toSlice(ip),
                     .func => |f| ip.getNav(zcu.funcInfo(f).owner_nav).name.toSlice(ip),
-                    .memoized_state => break :skip,
+                    .memoized_state => null,
                 };
-                try ref_traces.append(gpa, .{
-                    .decl_name = try eb.addString(name),
-                    .src_loc = try eb.addSourceLocation(.{
-                        .src_path = try eb.addString(rt_file_path),
-                        .span_start = span.start,
-                        .span_main = span.main,
-                        .span_end = span.end,
-                        .line = @intCast(loc.line),
-                        .column = @intCast(loc.column),
-                        .source_line = 0,
-                    }),
-                });
+                if (root_name) |n| {
+                    try addReferenceTraceFrame(zcu, eb, &ref_traces, n, last_call_src, false);
+                }
             }
             referenced_by = ref.referencer;
         }
@@ -3775,6 +3781,35 @@ pub fn addModuleErrorMsg(
     }
 }
 
+fn addReferenceTraceFrame(
+    zcu: *Zcu,
+    eb: *ErrorBundle.Wip,
+    ref_traces: *std.ArrayListUnmanaged(ErrorBundle.ReferenceTrace),
+    name: []const u8,
+    lazy_src: Zcu.LazySrcLoc,
+    inlined: bool,
+) !void {
+    const gpa = zcu.gpa;
+    const src = lazy_src.upgrade(zcu);
+    const source = try src.file_scope.getSource(gpa);
+    const span = try src.span(gpa);
+    const loc = std.zig.findLineColumn(source.bytes, span.main);
+    const rt_file_path = try src.file_scope.fullPath(gpa);
+    defer gpa.free(rt_file_path);
+    try ref_traces.append(gpa, .{
+        .decl_name = try eb.printString("{s}{s}", .{ name, if (inlined) " [inlined]" else "" }),
+        .src_loc = try eb.addSourceLocation(.{
+            .src_path = try eb.addString(rt_file_path),
+            .span_start = span.start,
+            .span_main = span.main,
+            .span_end = span.end,
+            .line = @intCast(loc.line),
+            .column = @intCast(loc.column),
+            .source_line = 0,
+        }),
+    });
+}
+
 pub fn addZirErrorMessages(eb: *ErrorBundle.Wip, file: *Zcu.File) !void {
     const gpa = eb.gpa;
     const src_path = try file.fullPath(gpa);
diff --git a/src/Sema.zig b/src/Sema.zig
index 8889b475fd..41453d2bba 100644
--- a/src/Sema.zig
+++ b/src/Sema.zig
@@ -191,7 +191,6 @@ const LowerZon = @import("Sema/LowerZon.zig");
 const arith = @import("Sema/arith.zig");
 
 pub const default_branch_quota = 1000;
-pub const default_reference_trace_len = 2;
 
 pub const InferredErrorSet = struct {
     /// The function body from which this error set originates.
@@ -445,10 +444,31 @@ pub const Block = struct {
     pub const Inlining = struct {
         call_block: *Block,
         call_src: LazySrcLoc,
-        has_comptime_args: bool,
         func: InternPool.Index,
+
+        /// Populated lazily by `refFrame`.
+        ref_frame: Zcu.InlineReferenceFrame.Index.Optional = .none,
+
+        /// If `true`, the following fields are `undefined`. This doesn't represent a true inline
+        /// call, but rather a generic call analyzing the instantiation's generic type bodies.
+        is_generic_instantiation: bool,
+
+        has_comptime_args: bool,
         comptime_result: Air.Inst.Ref,
         merges: Merges,
+
+        fn refFrame(inlining: *Inlining, zcu: *Zcu) Allocator.Error!Zcu.InlineReferenceFrame.Index {
+            if (inlining.ref_frame == .none) {
+                inlining.ref_frame = (try zcu.addInlineReferenceFrame(.{
+                    .callee = inlining.func,
+                    .call_src = inlining.call_src,
+                    .parent = if (inlining.call_block.inlining) |parent_inlining| p: {
+                        break :p (try parent_inlining.refFrame(zcu)).toOptional();
+                    } else .none,
+                })).toOptional();
+            }
+            return inlining.ref_frame.unwrap().?;
+        }
     };
 
     pub const Merges = struct {
@@ -2580,7 +2600,7 @@ pub fn failWithOwnedErrorMsg(sema: *Sema, block: ?*Block, err_msg: *Zcu.ErrorMsg
     if (build_options.enable_debug_extensions and zcu.comp.debug_compile_errors) {
         var wip_errors: std.zig.ErrorBundle.Wip = undefined;
         wip_errors.init(gpa) catch @panic("out of memory");
-        Compilation.addModuleErrorMsg(zcu, &wip_errors, err_msg.*) catch @panic("out of memory");
+        Compilation.addModuleErrorMsg(zcu, &wip_errors, err_msg.*, false) catch @panic("out of memory");
         std.debug.print("compile error during Sema:\n", .{});
         var error_bundle = wip_errors.toOwnedBundle("") catch @panic("out of memory");
         error_bundle.renderToStdErr(.{ .ttyconf = .no_color });
@@ -2590,20 +2610,17 @@ pub fn failWithOwnedErrorMsg(sema: *Sema, block: ?*Block, err_msg: *Zcu.ErrorMsg
     if (block) |start_block| {
         var block_it = start_block;
         while (block_it.inlining) |inlining| {
-            try sema.errNote(
-                inlining.call_src,
-                err_msg,
-                "called from here",
-                .{},
-            );
+            const note_str = note: {
+                if (inlining.is_generic_instantiation) break :note "generic function instantiated here";
+                if (inlining.call_block.isComptime()) break :note "called at comptime here";
+                break :note "called inline here";
+            };
+            try sema.errNote(inlining.call_src, err_msg, "{s}", .{note_str});
             block_it = inlining.call_block;
         }
     }
 
-    const use_ref_trace = if (zcu.comp.reference_trace) |n| n > 0 else zcu.failed_analysis.count() == 0;
-    if (use_ref_trace) {
-        err_msg.reference_trace_root = sema.owner.toOptional();
-    }
+    err_msg.reference_trace_root = sema.owner.toOptional();
 
     const gop = try zcu.failed_analysis.getOrPut(gpa, sema.owner);
     if (gop.found_existing) {
@@ -4291,7 +4308,7 @@ fn zirResolveInferredAlloc(sema: *Sema, block: *Block, inst: Zir.Inst.Index) Com
             if (zcu.intern_pool.isFuncBody(val)) {
                 const ty = Type.fromInterned(zcu.intern_pool.typeOf(val));
                 if (try ty.fnHasRuntimeBitsSema(pt)) {
-                    try sema.addReferenceEntry(src, AnalUnit.wrap(.{ .func = val }));
+                    try sema.addReferenceEntry(block, src, AnalUnit.wrap(.{ .func = val }));
                     try zcu.ensureFuncBodyAnalysisQueued(val);
                 }
             }
@@ -6619,7 +6636,7 @@ pub fn analyzeExport(
     if (options.linkage == .internal)
         return;
 
-    try sema.ensureNavResolved(src, orig_nav_index, .fully);
+    try sema.ensureNavResolved(block, src, orig_nav_index, .fully);
 
     const exported_nav_index = switch (ip.indexToKey(ip.getNav(orig_nav_index).status.fully_resolved.val)) {
         .variable => |v| v.owner_nav,
@@ -6648,7 +6665,7 @@ pub fn analyzeExport(
         return sema.fail(block, src, "export target cannot be extern", .{});
     }
 
-    try sema.maybeQueueFuncBodyAnalysis(src, exported_nav_index);
+    try sema.maybeQueueFuncBodyAnalysis(block, src, exported_nav_index);
 
     try sema.exports.append(gpa, .{
         .opts = options,
@@ -6896,7 +6913,7 @@ fn zirDeclRef(sema: *Sema, block: *Block, inst: Zir.Inst.Index) CompileError!Air
         .no_embedded_nulls,
     );
     const nav_index = try sema.lookupIdentifier(block, src, decl_name);
-    return sema.analyzeNavRef(src, nav_index);
+    return sema.analyzeNavRef(block, src, nav_index);
 }
 
 fn zirDeclVal(sema: *Sema, block: *Block, inst: Zir.Inst.Index) CompileError!Air.Inst.Ref {
@@ -6992,7 +7009,7 @@ fn lookupInNamespace(
                 }
 
                 for (usingnamespaces.items) |sub_ns_nav| {
-                    try sema.ensureNavResolved(src, sub_ns_nav, .fully);
+                    try sema.ensureNavResolved(block, src, sub_ns_nav, .fully);
                     const sub_ns_ty = Type.fromInterned(ip.getNav(sub_ns_nav).status.fully_resolved.val);
                     const sub_ns = zcu.namespacePtr(sub_ns_ty.getNamespaceIndex(zcu));
                     try checked_namespaces.put(gpa, sub_ns, {});
@@ -7724,10 +7741,11 @@ fn analyzeCall(
     var generic_inlining: Block.Inlining = if (func_ty_info.is_generic) .{
         .call_block = block,
         .call_src = call_src,
-        .has_comptime_args = false, // unused by error reporting
-        .func = .none, // unused by error reporting
-        .comptime_result = .none, // unused by error reporting
-        .merges = undefined, // unused because we'll never `return`
+        .func = func_val.?.toIntern(),
+        .is_generic_instantiation = true, // this allows the following fields to be `undefined`
+        .has_comptime_args = undefined,
+        .comptime_result = undefined,
+        .merges = undefined,
     } else undefined;
 
     // This is the block in which we evaluate generic function components: that is, generic parameter
@@ -8003,7 +8021,7 @@ fn analyzeCall(
         ref_func: {
             const runtime_func_val = try sema.resolveValue(runtime_func) orelse break :ref_func;
             if (!ip.isFuncBody(runtime_func_val.toIntern())) break :ref_func;
-            try sema.addReferenceEntry(call_src, .wrap(.{ .func = runtime_func_val.toIntern() }));
+            try sema.addReferenceEntry(block, call_src, .wrap(.{ .func = runtime_func_val.toIntern() }));
             try zcu.ensureFuncBodyAnalysisQueued(runtime_func_val.toIntern());
         }
 
@@ -8205,10 +8223,11 @@ fn analyzeCall(
     var inlining: Block.Inlining = .{
         .call_block = block,
         .call_src = call_src,
+        .func = func_val.?.toIntern(),
+        .is_generic_instantiation = false,
         .has_comptime_args = for (args) |a| {
             if (try sema.isComptimeKnown(a)) break true;
         } else false,
-        .func = func_val.?.toIntern(),
         .comptime_result = undefined,
         .merges = .{
             .block_inst = block_inst,
@@ -8239,7 +8258,10 @@ fn analyzeCall(
     if (!inlining.has_comptime_args) {
         var block_it = block;
         while (block_it.inlining) |parent_inlining| {
-            if (!parent_inlining.has_comptime_args and parent_inlining.func == func_val.?.toIntern()) {
+            if (!parent_inlining.is_generic_instantiation and
+                !parent_inlining.has_comptime_args and
+                parent_inlining.func == func_val.?.toIntern())
+            {
                 return sema.fail(block, call_src, "inline call is recursive", .{});
             }
             block_it = parent_inlining.call_block;
@@ -17258,7 +17280,7 @@ fn zirClosureGet(sema: *Sema, block: *Block, extended: Zir.Inst.Extended.InstDat
         .@"comptime" => |index| return Air.internedToRef(index),
         .runtime => |index| index,
         .nav_val => |nav| return sema.analyzeNavVal(block, src, nav),
-        .nav_ref => |nav| return sema.analyzeNavRef(src, nav),
+        .nav_ref => |nav| return sema.analyzeNavRef(block, src, nav),
     };
 
     // The comptime case is handled already above. Runtime case below.
@@ -18411,7 +18433,7 @@ fn typeInfoNamespaceDecls(
         if (zcu.analysis_in_progress.contains(.wrap(.{ .nav_val = nav }))) {
             continue;
         }
-        try sema.ensureNavResolved(src, nav, .fully);
+        try sema.ensureNavResolved(block, src, nav, .fully);
         const namespace_ty = Type.fromInterned(ip.getNav(nav).status.fully_resolved.val);
         try sema.typeInfoNamespaceDecls(block, src, namespace_ty.getNamespaceIndex(zcu).toOptional(), declaration_ty, decl_vals, seen_namespaces);
     }
@@ -19443,6 +19465,7 @@ fn analyzeRet(
     };
 
     if (block.inlining) |inlining| {
+        assert(!inlining.is_generic_instantiation); // can't `return` in a generic param/ret ty expr
         if (block.isComptime()) {
             const ret_val = try sema.resolveConstValue(block, operand_src, operand, null);
             inlining.comptime_result = operand;
@@ -27936,7 +27959,7 @@ fn namespaceLookupRef(
     decl_name: InternPool.NullTerminatedString,
 ) CompileError!?Air.Inst.Ref {
     const nav = try sema.namespaceLookup(block, src, namespace, decl_name) orelse return null;
-    return try sema.analyzeNavRef(src, nav);
+    return try sema.analyzeNavRef(block, src, nav);
 }
 
 fn namespaceLookupVal(
@@ -29099,7 +29122,7 @@ fn coerceExtra(
                     .@"extern" => |e| e.owner_nav,
                     else => unreachable,
                 };
-                const inst_as_ptr = try sema.analyzeNavRef(inst_src, fn_nav);
+                const inst_as_ptr = try sema.analyzeNavRef(block, inst_src, fn_nav);
                 return sema.coerce(block, dest_ty, inst_as_ptr, inst_src);
             }
 
@@ -30752,7 +30775,7 @@ fn coerceVarArgParam(
         .@"fn" => fn_ptr: {
             const fn_val = try sema.resolveConstDefinedValue(block, LazySrcLoc.unneeded, inst, undefined);
             const fn_nav = zcu.funcInfo(fn_val.toIntern()).owner_nav;
-            break :fn_ptr try sema.analyzeNavRef(inst_src, fn_nav);
+            break :fn_ptr try sema.analyzeNavRef(block, inst_src, fn_nav);
         },
         .array => return sema.fail(block, inst_src, "arrays must be passed by reference to variadic function", .{}),
         .float => float: {
@@ -31762,12 +31785,13 @@ fn analyzeNavVal(
     src: LazySrcLoc,
     nav_index: InternPool.Nav.Index,
 ) CompileError!Air.Inst.Ref {
-    const ref = try sema.analyzeNavRefInner(src, nav_index, false);
+    const ref = try sema.analyzeNavRefInner(block, src, nav_index, false);
     return sema.analyzeLoad(block, src, ref, src);
 }
 
 fn addReferenceEntry(
     sema: *Sema,
+    opt_block: ?*Block,
     src: LazySrcLoc,
     referenced_unit: AnalUnit,
 ) !void {
@@ -31775,10 +31799,12 @@ fn addReferenceEntry(
     if (!zcu.comp.incremental and zcu.comp.reference_trace == 0) return;
     const gop = try sema.references.getOrPut(sema.gpa, referenced_unit);
     if (gop.found_existing) return;
-    // TODO: we need to figure out how to model inline calls here.
-    // They aren't references in the analysis sense, but ought to show up in the reference trace!
-    // Would representing inline calls in the reference table cause excessive memory usage?
-    try zcu.addUnitReference(sema.owner, referenced_unit, src);
+    try zcu.addUnitReference(sema.owner, referenced_unit, src, inline_frame: {
+        const block = opt_block orelse break :inline_frame .none;
+        const inlining = block.inlining orelse break :inline_frame .none;
+        const frame = try inlining.refFrame(zcu);
+        break :inline_frame frame.toOptional();
+    });
 }
 
 pub fn addTypeReferenceEntry(
@@ -31797,7 +31823,7 @@ fn ensureMemoizedStateResolved(sema: *Sema, src: LazySrcLoc, stage: InternPool.M
     const pt = sema.pt;
 
     const unit: AnalUnit = .wrap(.{ .memoized_state = stage });
-    try sema.addReferenceEntry(src, unit);
+    try sema.addReferenceEntry(null, src, unit);
     try sema.declareDependency(.{ .memoized_state = stage });
 
     if (pt.zcu.analysis_in_progress.contains(unit)) {
@@ -31806,7 +31832,7 @@ fn ensureMemoizedStateResolved(sema: *Sema, src: LazySrcLoc, stage: InternPool.M
     try pt.ensureMemoizedStateUpToDate(stage);
 }
 
-pub fn ensureNavResolved(sema: *Sema, src: LazySrcLoc, nav_index: InternPool.Nav.Index, kind: enum { type, fully }) CompileError!void {
+pub fn ensureNavResolved(sema: *Sema, block: *Block, src: LazySrcLoc, nav_index: InternPool.Nav.Index, kind: enum { type, fully }) CompileError!void {
     const pt = sema.pt;
     const zcu = pt.zcu;
     const ip = &zcu.intern_pool;
@@ -31829,7 +31855,7 @@ pub fn ensureNavResolved(sema: *Sema, src: LazySrcLoc, nav_index: InternPool.Nav
         .type => .{ .nav_ty = nav_index },
         .fully => .{ .nav_val = nav_index },
     });
-    try sema.addReferenceEntry(src, anal_unit);
+    try sema.addReferenceEntry(block, src, anal_unit);
 
     if (zcu.analysis_in_progress.contains(anal_unit)) {
         return sema.failWithOwnedErrorMsg(null, try sema.errMsg(.{
@@ -31859,25 +31885,25 @@ fn optRefValue(sema: *Sema, opt_val: ?Value) !Value {
     } }));
 }
 
-fn analyzeNavRef(sema: *Sema, src: LazySrcLoc, nav_index: InternPool.Nav.Index) CompileError!Air.Inst.Ref {
-    return sema.analyzeNavRefInner(src, nav_index, true);
+fn analyzeNavRef(sema: *Sema, block: *Block, src: LazySrcLoc, nav_index: InternPool.Nav.Index) CompileError!Air.Inst.Ref {
+    return sema.analyzeNavRefInner(block, src, nav_index, true);
 }
 
 /// Analyze a reference to the `Nav` at the given index. Ensures the underlying `Nav` is analyzed.
 /// If this pointer will be used directly, `is_ref` must be `true`.
 /// If this pointer will be immediately loaded (i.e. a `decl_val` instruction), `is_ref` must be `false`.
-fn analyzeNavRefInner(sema: *Sema, src: LazySrcLoc, orig_nav_index: InternPool.Nav.Index, is_ref: bool) CompileError!Air.Inst.Ref {
+fn analyzeNavRefInner(sema: *Sema, block: *Block, src: LazySrcLoc, orig_nav_index: InternPool.Nav.Index, is_ref: bool) CompileError!Air.Inst.Ref {
     const pt = sema.pt;
     const zcu = pt.zcu;
     const ip = &zcu.intern_pool;
 
-    try sema.ensureNavResolved(src, orig_nav_index, if (is_ref) .type else .fully);
+    try sema.ensureNavResolved(block, src, orig_nav_index, if (is_ref) .type else .fully);
 
     const nav_index = nav: {
         if (ip.getNav(orig_nav_index).isExternOrFn(ip)) {
             // Getting a pointer to this `Nav` might mean we actually get a pointer to something else!
             // We need to resolve the value to know for sure.
-            if (is_ref) try sema.ensureNavResolved(src, orig_nav_index, .fully);
+            if (is_ref) try sema.ensureNavResolved(block, src, orig_nav_index, .fully);
             switch (ip.indexToKey(ip.getNav(orig_nav_index).status.fully_resolved.val)) {
                 .func => |f| break :nav f.owner_nav,
                 .@"extern" => |e| break :nav e.owner_nav,
@@ -31901,7 +31927,7 @@ fn analyzeNavRefInner(sema: *Sema, src: LazySrcLoc, orig_nav_index: InternPool.N
         },
     });
     if (is_ref) {
-        try sema.maybeQueueFuncBodyAnalysis(src, nav_index);
+        try sema.maybeQueueFuncBodyAnalysis(block, src, nav_index);
     }
     return Air.internedToRef((try pt.intern(.{ .ptr = .{
         .ty = ptr_ty.toIntern(),
@@ -31910,7 +31936,7 @@ fn analyzeNavRefInner(sema: *Sema, src: LazySrcLoc, orig_nav_index: InternPool.N
     } })));
 }
 
-fn maybeQueueFuncBodyAnalysis(sema: *Sema, src: LazySrcLoc, nav_index: InternPool.Nav.Index) !void {
+fn maybeQueueFuncBodyAnalysis(sema: *Sema, block: *Block, src: LazySrcLoc, nav_index: InternPool.Nav.Index) !void {
     const pt = sema.pt;
     const zcu = pt.zcu;
     const ip = &zcu.intern_pool;
@@ -31918,16 +31944,16 @@ fn maybeQueueFuncBodyAnalysis(sema: *Sema, src: LazySrcLoc, nav_index: InternPoo
     // To avoid forcing too much resolution, let's first resolve the type, and check if it's a function.
     // If it is, we can resolve the *value*, and queue analysis as needed.
 
-    try sema.ensureNavResolved(src, nav_index, .type);
+    try sema.ensureNavResolved(block, src, nav_index, .type);
     const nav_ty: Type = .fromInterned(ip.getNav(nav_index).typeOf(ip));
     if (nav_ty.zigTypeTag(zcu) != .@"fn") return;
     if (!try nav_ty.fnHasRuntimeBitsSema(pt)) return;
 
-    try sema.ensureNavResolved(src, nav_index, .fully);
+    try sema.ensureNavResolved(block, src, nav_index, .fully);
     const nav_val = zcu.navValue(nav_index);
     if (!ip.isFuncBody(nav_val.toIntern())) return;
 
-    try sema.addReferenceEntry(src, AnalUnit.wrap(.{ .func = nav_val.toIntern() }));
+    try sema.addReferenceEntry(block, src, AnalUnit.wrap(.{ .func = nav_val.toIntern() }));
     try zcu.ensureFuncBodyAnalysisQueued(nav_val.toIntern());
 }
 
@@ -31943,8 +31969,8 @@ fn analyzeRef(
 
     if (try sema.resolveValue(operand)) |val| {
         switch (zcu.intern_pool.indexToKey(val.toIntern())) {
-            .@"extern" => |e| return sema.analyzeNavRef(src, e.owner_nav),
-            .func => |f| return sema.analyzeNavRef(src, f.owner_nav),
+            .@"extern" => |e| return sema.analyzeNavRef(block, src, e.owner_nav),
+            .func => |f| return sema.analyzeNavRef(block, src, f.owner_nav),
             else => return uavRef(sema, val.toIntern()),
         }
     }
@@ -35508,7 +35534,7 @@ fn resolveInferredErrorSet(
         }
         // In this case we are dealing with the actual InferredErrorSet object that
         // corresponds to the function, not one created to track an inline/comptime call.
-        try sema.addReferenceEntry(src, AnalUnit.wrap(.{ .func = func_index }));
+        try sema.addReferenceEntry(block, src, AnalUnit.wrap(.{ .func = func_index }));
         try pt.ensureFuncBodyUpToDate(func_index);
     }
 
diff --git a/src/Sema/comptime_ptr_access.zig b/src/Sema/comptime_ptr_access.zig
index 2e21c31f2b..f4ac897154 100644
--- a/src/Sema/comptime_ptr_access.zig
+++ b/src/Sema/comptime_ptr_access.zig
@@ -228,7 +228,7 @@ fn loadComptimePtrInner(
 
     const base_val: MutableValue = switch (ptr.base_addr) {
         .nav => |nav| val: {
-            try sema.ensureNavResolved(src, nav, .fully);
+            try sema.ensureNavResolved(block, src, nav, .fully);
             const val = ip.getNav(nav).status.fully_resolved.val;
             switch (ip.indexToKey(val)) {
                 .variable => return .runtime_load,
diff --git a/src/Zcu.zig b/src/Zcu.zig
index fab40763e8..584eb8ca3d 100644
--- a/src/Zcu.zig
+++ b/src/Zcu.zig
@@ -215,6 +215,9 @@ all_references: std.ArrayListUnmanaged(Reference) = .empty,
 /// Freelist of indices in `all_references`.
 free_references: std.ArrayListUnmanaged(u32) = .empty,
 
+inline_reference_frames: std.ArrayListUnmanaged(InlineReferenceFrame) = .empty,
+free_inline_reference_frames: std.ArrayListUnmanaged(InlineReferenceFrame.Index) = .empty,
+
 /// Key is the `AnalUnit` *performing* the reference. This representation allows
 /// incremental updates to quickly delete references caused by a specific `AnalUnit`.
 /// Value is index into `all_type_reference` of the first reference triggered by the unit.
@@ -583,6 +586,42 @@ pub const Reference = struct {
     next: u32,
     /// The source location of the reference.
     src: LazySrcLoc,
+    /// If not `.none`, this is the index of the `InlineReferenceFrame` which should appear
+    /// between the referencer and `referenced` in the reference trace. These frames represent
+    /// inline calls, which do not create actual references (since they happen in the caller's
+    /// `AnalUnit`), but do show in the reference trace.
+    inline_frame: InlineReferenceFrame.Index.Optional,
+};
+
+pub const InlineReferenceFrame = struct {
+    /// The inline *callee*; that is, the function which was called inline.
+    /// The *caller* is either `parent`, or else the unit causing the original `Reference`.
+    callee: InternPool.Index,
+    /// The source location of the inline call, in the *caller*.
+    call_src: LazySrcLoc,
+    /// If not `.none`, a frame which should appear directly below this one.
+    /// This will be the "parent" inline call; this frame's `callee` is our caller.
+    parent: InlineReferenceFrame.Index.Optional,
+
+    pub const Index = enum(u32) {
+        _,
+        pub fn ptr(idx: Index, zcu: *Zcu) *InlineReferenceFrame {
+            return &zcu.inline_reference_frames.items[@intFromEnum(idx)];
+        }
+        pub fn toOptional(idx: Index) Optional {
+            return @enumFromInt(@intFromEnum(idx));
+        }
+        pub const Optional = enum(u32) {
+            none = std.math.maxInt(u32),
+            _,
+            pub fn unwrap(opt: Optional) ?Index {
+                return switch (opt) {
+                    .none => null,
+                    _ => @enumFromInt(@intFromEnum(opt)),
+                };
+            }
+        };
+    };
 };
 
 pub const TypeReference = struct {
@@ -3440,12 +3479,28 @@ pub fn deleteUnitReferences(zcu: *Zcu, anal_unit: AnalUnit) void {
         var idx = kv.value;
 
         while (idx != std.math.maxInt(u32)) {
+            const ref = zcu.all_references.items[idx];
             zcu.free_references.append(gpa, idx) catch {
                 // This space will be reused eventually, so we need not propagate this error.
                 // Just leak it for now, and let GC reclaim it later on.
                 break :unit_refs;
             };
-            idx = zcu.all_references.items[idx].next;
+            idx = ref.next;
+
+            var opt_inline_frame = ref.inline_frame;
+            while (opt_inline_frame.unwrap()) |inline_frame| {
+                // The same inline frame could be used multiple times by one unit. We need to
+                // detect this case to avoid adding it to `free_inline_reference_frames` more
+                // than once. We do that by setting `parent` to itself as a marker.
+                if (inline_frame.ptr(zcu).parent == inline_frame.toOptional()) break;
+                zcu.free_inline_reference_frames.append(gpa, inline_frame) catch {
+                    // This space will be reused eventually, so we need not propagate this error.
+                    // Just leak it for now, and let GC reclaim it later on.
+                    break :unit_refs;
+                };
+                opt_inline_frame = inline_frame.ptr(zcu).parent;
+                inline_frame.ptr(zcu).parent = inline_frame.toOptional(); // signal to code above
+            }
         }
     }
 
@@ -3480,7 +3535,22 @@ pub fn deleteUnitCompileLogs(zcu: *Zcu, anal_unit: AnalUnit) void {
     }
 }
 
-pub fn addUnitReference(zcu: *Zcu, src_unit: AnalUnit, referenced_unit: AnalUnit, ref_src: LazySrcLoc) Allocator.Error!void {
+pub fn addInlineReferenceFrame(zcu: *Zcu, frame: InlineReferenceFrame) Allocator.Error!Zcu.InlineReferenceFrame.Index {
+    const frame_idx: InlineReferenceFrame.Index = zcu.free_inline_reference_frames.pop() orelse idx: {
+        _ = try zcu.inline_reference_frames.addOne(zcu.gpa);
+        break :idx @enumFromInt(zcu.inline_reference_frames.items.len - 1);
+    };
+    frame_idx.ptr(zcu).* = frame;
+    return frame_idx;
+}
+
+pub fn addUnitReference(
+    zcu: *Zcu,
+    src_unit: AnalUnit,
+    referenced_unit: AnalUnit,
+    ref_src: LazySrcLoc,
+    inline_frame: InlineReferenceFrame.Index.Optional,
+) Allocator.Error!void {
     const gpa = zcu.gpa;
 
     zcu.clearCachedResolvedReferences();
@@ -3500,6 +3570,7 @@ pub fn addUnitReference(zcu: *Zcu, src_unit: AnalUnit, referenced_unit: AnalUnit
         .referenced = referenced_unit,
         .next = if (gop.found_existing) gop.value_ptr.* else std.math.maxInt(u32),
         .src = ref_src,
+        .inline_frame = inline_frame,
     };
 
     gop.value_ptr.* = @intCast(ref_idx);
@@ -3828,7 +3899,10 @@ pub fn unionTagFieldIndex(zcu: *const Zcu, loaded_union: InternPool.LoadedUnionT
 
 pub const ResolvedReference = struct {
     referencer: AnalUnit,
+    /// If `inline_frame` is not `.none`, this is the *deepest* source location in the chain of
+    /// inline calls. For source locations further up the inline call stack, consult `inline_frame`.
     src: LazySrcLoc,
+    inline_frame: InlineReferenceFrame.Index.Optional,
 };
 
 /// Returns a mapping from an `AnalUnit` to where it is referenced.
@@ -4037,6 +4111,7 @@ fn resolveReferencesInner(zcu: *Zcu) !std.AutoHashMapUnmanaged(AnalUnit, ?Resolv
                         try unit_queue.put(gpa, ref.referenced, .{
                             .referencer = unit,
                             .src = ref.src,
+                            .inline_frame = ref.inline_frame,
                         });
                     }
                     ref_idx = ref.next;
@@ -4055,6 +4130,7 @@ fn resolveReferencesInner(zcu: *Zcu) !std.AutoHashMapUnmanaged(AnalUnit, ?Resolv
                         try type_queue.put(gpa, ref.referenced, .{
                             .referencer = unit,
                             .src = ref.src,
+                            .inline_frame = .none,
                         });
                     }
                     ref_idx = ref.next;
diff --git a/test/cases/compile_errors/add_overflow_in_function_evaluation.zig b/test/cases/compile_errors/add_overflow_in_function_evaluation.zig
index ef1a016711..ccb9f531c9 100644
--- a/test/cases/compile_errors/add_overflow_in_function_evaluation.zig
+++ b/test/cases/compile_errors/add_overflow_in_function_evaluation.zig
@@ -8,8 +8,6 @@ export fn entry() usize {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :3:14: error: overflow of integer type 'u16' with value '65540'
-// :1:14: note: called from here
+// :1:14: note: called at comptime here
diff --git a/test/cases/compile_errors/closure_get_depends_on_failed_decl.zig b/test/cases/compile_errors/closure_get_depends_on_failed_decl.zig
index 43993eca3c..82abf03968 100644
--- a/test/cases/compile_errors/closure_get_depends_on_failed_decl.zig
+++ b/test/cases/compile_errors/closure_get_depends_on_failed_decl.zig
@@ -18,9 +18,7 @@ pub export fn entry() void {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :11:5: error: expected 0 argument(s), found 1
 // :1:12: note: function declared here
-// :17:19: note: called from here
+// :17:19: note: called inline here
diff --git a/test/cases/compile_errors/compile_time_division_by_zero.zig b/test/cases/compile_errors/compile_time_division_by_zero.zig
index 6fabf55b33..e1f05e26b2 100644
--- a/test/cases/compile_errors/compile_time_division_by_zero.zig
+++ b/test/cases/compile_errors/compile_time_division_by_zero.zig
@@ -10,4 +10,4 @@ export fn entry() usize {
 // error
 //
 // :3:16: error: division by zero here causes illegal behavior
-// :1:14: note: called from here
+// :1:14: note: called at comptime here
diff --git a/test/cases/compile_errors/comptime_try_non_error.zig b/test/cases/compile_errors/comptime_try_non_error.zig
index 935148414c..8d61df6e9a 100644
--- a/test/cases/compile_errors/comptime_try_non_error.zig
+++ b/test/cases/compile_errors/comptime_try_non_error.zig
@@ -11,8 +11,6 @@ pub fn bar() u8 {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :6:12: error: expected error union type, found 'u8'
-// :2:8: note: called from here
+// :2:8: note: called at comptime here
diff --git a/test/cases/compile_errors/comptime_var_referenced_by_type.zig b/test/cases/compile_errors/comptime_var_referenced_by_type.zig
index b9b0c756a9..1f1ba8318c 100644
--- a/test/cases/compile_errors/comptime_var_referenced_by_type.zig
+++ b/test/cases/compile_errors/comptime_var_referenced_by_type.zig
@@ -22,4 +22,4 @@ comptime {
 //
 // :7:16: error: captured value contains reference to comptime var
 // :16:30: note: 'wrapper.ptr' points to comptime var declared here
-// :17:29: note: called from here
+// :17:29: note: called at comptime here
diff --git a/test/cases/compile_errors/constant_inside_comptime_function_has_compile_error.zig b/test/cases/compile_errors/constant_inside_comptime_function_has_compile_error.zig
index 2afe5c4630..ffc4486bc2 100644
--- a/test/cases/compile_errors/constant_inside_comptime_function_has_compile_error.zig
+++ b/test/cases/compile_errors/constant_inside_comptime_function_has_compile_error.zig
@@ -15,9 +15,8 @@ export fn entry() void {
 }
 
 // error
-// target=native
 //
 // :4:5: error: unreachable code
 // :4:25: note: control flow is diverted here
 // :4:25: error: aoeu
-// :1:36: note: called from here
+// :1:36: note: called at comptime here
diff --git a/test/cases/compile_errors/error_in_comptime_call_in_container_level_initializer.zig b/test/cases/compile_errors/error_in_comptime_call_in_container_level_initializer.zig
index 9b8b35ad60..597dc5e66f 100644
--- a/test/cases/compile_errors/error_in_comptime_call_in_container_level_initializer.zig
+++ b/test/cases/compile_errors/error_in_comptime_call_in_container_level_initializer.zig
@@ -15,8 +15,6 @@ pub export fn entry() void {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :9:48: error: caught unexpected error 'InvalidVersion'
 // :?:?: note: error returned here
@@ -24,4 +22,4 @@ pub export fn entry() void {
 // :?:?: note: error returned here
 // :?:?: note: error returned here
 // :?:?: note: error returned here
-// :12:37: note: called from here
+// :12:37: note: called at comptime here
diff --git a/test/cases/compile_errors/generic_function_instantiation_inherits_parent_branch_quota.zig b/test/cases/compile_errors/generic_function_instantiation_inherits_parent_branch_quota.zig
index 4db27f0620..89202fea0f 100644
--- a/test/cases/compile_errors/generic_function_instantiation_inherits_parent_branch_quota.zig
+++ b/test/cases/compile_errors/generic_function_instantiation_inherits_parent_branch_quota.zig
@@ -25,5 +25,5 @@ fn Type(comptime n: usize) type {
 //
 // :21:16: error: evaluation exceeded 1001 backwards branches
 // :21:16: note: use @setEvalBranchQuota() to raise the branch limit from 1001
-// :16:34: note: called from here
-// :8:15: note: called from here
+// :16:34: note: called at comptime here
+// :8:15: note: generic function instantiated here
diff --git a/test/cases/compile_errors/generic_instantiation_failure_in_generic_function_return_type.zig b/test/cases/compile_errors/generic_instantiation_failure_in_generic_function_return_type.zig
index 4316b6fc79..96d8077085 100644
--- a/test/cases/compile_errors/generic_instantiation_failure_in_generic_function_return_type.zig
+++ b/test/cases/compile_errors/generic_instantiation_failure_in_generic_function_return_type.zig
@@ -36,8 +36,6 @@ pub fn is(comptime id: std.builtin.TypeId) TraitFn {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :8:48: error: expected type 'type', found 'bool'
-// :5:21: note: called from here
+// :5:21: note: generic function instantiated here
diff --git a/test/cases/compile_errors/missing_main_fn_in_executable.zig b/test/cases/compile_errors/missing_main_fn_in_executable.zig
index 75d5ef352f..56e87f7283 100644
--- a/test/cases/compile_errors/missing_main_fn_in_executable.zig
+++ b/test/cases/compile_errors/missing_main_fn_in_executable.zig
@@ -1,9 +1,8 @@
 // error
-// backend=stage2
 // target=x86_64-linux
 // output_mode=Exe
 //
 // : error: root source file struct 'tmp' has no member named 'main'
 // : note: struct declared here
-// : note: called from here
-// : note: called from here
+// : note: called inline here
+// : note: called inline here
diff --git a/test/cases/compile_errors/missing_struct_field_in_fn_called_at_comptime.zig b/test/cases/compile_errors/missing_struct_field_in_fn_called_at_comptime.zig
index aaded91209..539c08afbe 100644
--- a/test/cases/compile_errors/missing_struct_field_in_fn_called_at_comptime.zig
+++ b/test/cases/compile_errors/missing_struct_field_in_fn_called_at_comptime.zig
@@ -10,9 +10,7 @@ comptime {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :5:17: error: missing struct field: b
 // :1:11: note: struct declared here
-// :9:15: note: called from here
+// :9:15: note: called at comptime here
diff --git a/test/cases/compile_errors/mul_overflow_in_function_evaluation.zig b/test/cases/compile_errors/mul_overflow_in_function_evaluation.zig
index c484df7540..350f2e7870 100644
--- a/test/cases/compile_errors/mul_overflow_in_function_evaluation.zig
+++ b/test/cases/compile_errors/mul_overflow_in_function_evaluation.zig
@@ -8,8 +8,6 @@ export fn entry() usize {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :3:14: error: overflow of integer type 'u16' with value '1800000'
-// :1:14: note: called from here
+// :1:14: note: called at comptime here
diff --git a/test/cases/compile_errors/negation_overflow_in_function_evaluation.zig b/test/cases/compile_errors/negation_overflow_in_function_evaluation.zig
index 208f761005..3329dcd9db 100644
--- a/test/cases/compile_errors/negation_overflow_in_function_evaluation.zig
+++ b/test/cases/compile_errors/negation_overflow_in_function_evaluation.zig
@@ -8,8 +8,6 @@ export fn entry() usize {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :3:12: error: overflow of integer type 'i8' with value '128'
-// :1:14: note: called from here
+// :1:14: note: called at comptime here
diff --git a/test/cases/compile_errors/non-comptime-parameter-used-as-array-size.zig b/test/cases/compile_errors/non-comptime-parameter-used-as-array-size.zig
index 65b2886d07..ba9806deed 100644
--- a/test/cases/compile_errors/non-comptime-parameter-used-as-array-size.zig
+++ b/test/cases/compile_errors/non-comptime-parameter-used-as-array-size.zig
@@ -11,4 +11,4 @@ fn makeLlamas(count: usize) [count]u8 {}
 //
 // :8:30: error: unable to resolve comptime value
 // :8:30: note: array length must be comptime-known
-// :2:31: note: called from here
+// :2:31: note: generic function instantiated here
diff --git a/test/cases/compile_errors/private_main_fn.zig b/test/cases/compile_errors/private_main_fn.zig
index d02f41ae9e..0e85de9f0f 100644
--- a/test/cases/compile_errors/private_main_fn.zig
+++ b/test/cases/compile_errors/private_main_fn.zig
@@ -1,11 +1,10 @@
 fn main() void {}
 
 // error
-// backend=stage2
 // target=x86_64-linux
 // output_mode=Exe
 //
 // : error: 'main' is not marked 'pub'
 // :1:1: note: declared here
-// : note: called from here
-// : note: called from here
+// : note: called inline here
+// : note: called inline here
diff --git a/test/cases/compile_errors/recursive_inline_fn.zig b/test/cases/compile_errors/recursive_inline_fn.zig
index 7f96ad6709..d7b2fb3ded 100644
--- a/test/cases/compile_errors/recursive_inline_fn.zig
+++ b/test/cases/compile_errors/recursive_inline_fn.zig
@@ -31,8 +31,8 @@ pub export fn entry2() void {
 // error
 //
 // :5:27: error: inline call is recursive
-// :12:12: note: called from here
+// :12:12: note: called inline here
 // :24:10: error: inline call is recursive
-// :20:10: note: called from here
-// :16:11: note: called from here
-// :28:10: note: called from here
+// :20:10: note: called inline here
+// :16:11: note: called inline here
+// :28:10: note: called inline here
diff --git a/test/cases/compile_errors/referring_to_a_struct_that_is_invalid.zig b/test/cases/compile_errors/referring_to_a_struct_that_is_invalid.zig
index 946ead9954..4fd76792c4 100644
--- a/test/cases/compile_errors/referring_to_a_struct_that_is_invalid.zig
+++ b/test/cases/compile_errors/referring_to_a_struct_that_is_invalid.zig
@@ -11,8 +11,6 @@ fn assert(ok: bool) void {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :10:14: error: reached unreachable code
-// :6:20: note: called from here
+// :6:20: note: called at comptime here
diff --git a/test/cases/compile_errors/ret_coercion_error_in_generic_fn_called_from_non_fn_scope.zig b/test/cases/compile_errors/ret_coercion_error_in_generic_fn_called_from_non_fn_scope.zig
index ba17172b42..afb1e52310 100644
--- a/test/cases/compile_errors/ret_coercion_error_in_generic_fn_called_from_non_fn_scope.zig
+++ b/test/cases/compile_errors/ret_coercion_error_in_generic_fn_called_from_non_fn_scope.zig
@@ -6,9 +6,7 @@ comptime {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :2:12: error: expected type 'fn () void', found 'type'
 // :1:10: note: function return type declared here
-// :5:12: note: called from here
+// :5:12: note: called at comptime here
diff --git a/test/cases/compile_errors/runtime_operation_in_comptime_scope.zig b/test/cases/compile_errors/runtime_operation_in_comptime_scope.zig
index e3576c179b..73220b0ba4 100644
--- a/test/cases/compile_errors/runtime_operation_in_comptime_scope.zig
+++ b/test/cases/compile_errors/runtime_operation_in_comptime_scope.zig
@@ -30,7 +30,7 @@ var rt: u32 = undefined;
 // :10:12: note: call to function with comptime-only return type 'type' is evaluated at comptime
 // :13:10: note: return type declared here
 // :10:12: note: types are not available at runtime
-// :2:8: note: called from here
+// :2:8: note: called inline here
 // :19:8: error: unable to evaluate comptime expression
 // :19:5: note: operation is runtime due to this operand
 // :6:8: note: called at comptime from here
diff --git a/test/cases/compile_errors/sema_src_used_after_inline_call.zig b/test/cases/compile_errors/sema_src_used_after_inline_call.zig
index 4e3f31e410..0678113322 100644
--- a/test/cases/compile_errors/sema_src_used_after_inline_call.zig
+++ b/test/cases/compile_errors/sema_src_used_after_inline_call.zig
@@ -18,9 +18,7 @@ export fn entry() void {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :13:30: error: expected type 'u32', found 'i32'
 // :13:30: note: unsigned 32-bit int cannot represent all possible signed 32-bit values
-// :17:33: note: called from here
+// :17:33: note: called inline here
diff --git a/test/cases/compile_errors/stack_usage_in_naked_function.zig b/test/cases/compile_errors/stack_usage_in_naked_function.zig
index 2b6f7df9a1..aee0ea5952 100644
--- a/test/cases/compile_errors/stack_usage_in_naked_function.zig
+++ b/test/cases/compile_errors/stack_usage_in_naked_function.zig
@@ -36,10 +36,9 @@ export fn d() callconv(.naked) noreturn {
 }
 
 // error
-// backend=stage2
 //
 // :2:5: error: local variable in naked function
 // :10:5: error: local variable in naked function
 // :23:5: error: local variable in naked function
 // :30:13: error: local variable in naked function
-// :35:12: note: called from here
+// :35:12: note: called inline here
diff --git a/test/cases/compile_errors/store_to_comptime_var_through_call.zig b/test/cases/compile_errors/store_to_comptime_var_through_call.zig
index 0fb1246e31..5c812d5eac 100644
--- a/test/cases/compile_errors/store_to_comptime_var_through_call.zig
+++ b/test/cases/compile_errors/store_to_comptime_var_through_call.zig
@@ -12,4 +12,4 @@ fn incr(x: *comptime_int) void {
 //
 // :8:9: error: store to comptime variable depends on runtime condition
 // :3:9: note: runtime condition here
-// :4:22: note: called from here
+// :4:22: note: called at comptime here
diff --git a/test/cases/compile_errors/sub_overflow_in_function_evaluation.zig b/test/cases/compile_errors/sub_overflow_in_function_evaluation.zig
index 651ef34bdc..6949e87427 100644
--- a/test/cases/compile_errors/sub_overflow_in_function_evaluation.zig
+++ b/test/cases/compile_errors/sub_overflow_in_function_evaluation.zig
@@ -8,8 +8,6 @@ export fn entry() usize {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :3:14: error: overflow of integer type 'u16' with value '-10'
-// :1:14: note: called from here
+// :1:14: note: called at comptime here
diff --git a/test/cases/compile_errors/unreachable_executed_at_comptime.zig b/test/cases/compile_errors/unreachable_executed_at_comptime.zig
index 5131a3362d..6d2e534136 100644
--- a/test/cases/compile_errors/unreachable_executed_at_comptime.zig
+++ b/test/cases/compile_errors/unreachable_executed_at_comptime.zig
@@ -9,8 +9,6 @@ export fn entry() void {
 }
 
 // error
-// backend=stage2
-// target=native
 //
 // :4:9: error: reached unreachable code
-// :8:21: note: called from here
+// :8:21: note: called at comptime here