diff --git a/Include/internal/pycore_stackref.h b/Include/internal/pycore_stackref.h
index 062834368bcd29..6e8daed3776327 100644
--- a/Include/internal/pycore_stackref.h
+++ b/Include/internal/pycore_stackref.h
@@ -293,7 +293,7 @@ PyStackRef_Unwrap(_PyStackRef ref)
 static inline bool
 PyStackRef_IsError(_PyStackRef ref)
 {
-    return ref.bits == Py_TAG_INVALID;
+    return (ref.bits & Py_TAG_BITS) == Py_TAG_INVALID;
 }
 
 static inline bool
diff --git a/Python/ceval.c b/Python/ceval.c
index 0ccaacaf3ed5b1..81c7466859eec2 100644
--- a/Python/ceval.c
+++ b/Python/ceval.c
@@ -160,6 +160,10 @@ dump_item(_PyStackRef item)
         printf("<NULL>");
         return;
     }
+    if (PyStackRef_IsError(item)) {
+        printf("<INVALID>");
+        return;
+    }
     if (PyStackRef_IsTaggedInt(item)) {
         printf("%" PRId64, (int64_t)PyStackRef_UntagInt(item));
         return;