diff --git a/Python/pythonrun.c b/Python/pythonrun.c
index 1b0a84b..33dd11b 100644
--- a/Python/pythonrun.c
+++ b/Python/pythonrun.c
@@ -1344,6 +1344,8 @@
 {
     char *nl;
     if (offset >= 0) {
+        if (offset > 0 && offset == strlen(text) && text[offset - 1] == '\n')
+            offset--;
         for (;;) {
             nl = strchr(text, '\n');
             if (nl == NULL || nl-text >= offset)
@@ -1363,7 +1365,7 @@
     if (offset == -1)
         return;
     PyFile_WriteString("    ", f);
-    while (--offset)
+    while (--offset > 0)
         PyFile_WriteString(" ", f);
     PyFile_WriteString("^\n", f);
 }