diff --git a/llvm/lib/CodeGen/TwoAddressInstructionPass.cpp b/llvm/lib/CodeGen/TwoAddressInstructionPass.cpp
--- a/llvm/lib/CodeGen/TwoAddressInstructionPass.cpp
+++ b/llvm/lib/CodeGen/TwoAddressInstructionPass.cpp
@@ -1485,9 +1485,10 @@
   }
 
   if (AllUsesCopied) {
-    bool ReplacedAllUntiedUses = true;
+    bool ReplacedAllUntiedUses = false;
     if (!IsEarlyClobber) {
       // Replace other (un-tied) uses of regB with LastCopiedReg.
+      ReplacedAllUntiedUses = true;
       for (MachineOperand &MO : MI->operands()) {
         if (MO.isReg() && MO.getReg() == RegB && MO.isUse()) {
           if (MO.getSubReg() == SubRegB) {
diff --git a/llvm/test/CodeGen/SystemZ/twoaddr-kill.mir b/llvm/test/CodeGen/SystemZ/twoaddr-kill.mir
--- a/llvm/test/CodeGen/SystemZ/twoaddr-kill.mir
+++ b/llvm/test/CodeGen/SystemZ/twoaddr-kill.mir
@@ -1,8 +1,8 @@
 # NOTE: Assertions have been autogenerated by utils/update_mir_test_checks.py
 # RUN: llc -o - %s -verify-machineinstrs -mtriple=s390x-linux-gnu -mcpu=z196 -run-pass=livevars,twoaddressinstruction | FileCheck %s
 
-# FIXME: The COPY from [[COPY3]] is killed even though there is a subsequent use
-# of [[COPY3]] in the INLINEASM instruction.
+# Check that the COPY from [[COPY3]] is not killed because there is a subsequent
+# use of [[COPY3]] in the INLINEASM instruction.
 ---
 name: f2
 tracksRegLiveness: true
@@ -20,7 +20,7 @@
     ; CHECK-NEXT: [[COPY2:%[0-9]+]]:grh32bit = COPY killed [[COPY1]]
     ; CHECK-NEXT: INLINEASM &"stepa $1, $2, $3", 0 /* attdialect */, 393226 /* regdef:GRH32Bit */, def [[COPY2]], 2147483657 /* reguse tiedto:$0 */, [[COPY2]](tied-def 3), 9 /* reguse */, killed $r2l, 9 /* reguse */, killed $r3l
     ; CHECK-NEXT: [[COPY3:%[0-9]+]]:grh32bit = COPY killed [[COPY2]]
-    ; CHECK-NEXT: [[COPY4:%[0-9]+]]:grh32bit = COPY killed [[COPY3]]
+    ; CHECK-NEXT: [[COPY4:%[0-9]+]]:grh32bit = COPY [[COPY3]]
     ; CHECK-NEXT: INLINEASM &"stepb $1, $2", 0 /* attdialect */, 393227 /* regdef-ec:GRH32Bit */, def early-clobber [[COPY4]], 2147483657 /* reguse tiedto:$0 */, [[COPY4]](tied-def 3), 393225 /* reguse:GRH32Bit */, [[COPY3]]
     ; CHECK-NEXT: $r2l = COPY killed [[COPY4]]
     ; CHECK-NEXT: Return implicit killed $r2l