Index: lib/Transforms/Utils/Local.cpp
===================================================================
--- lib/Transforms/Utils/Local.cpp
+++ lib/Transforms/Utils/Local.cpp
@@ -1071,8 +1071,14 @@
   if (LdStHasDebugValue(DIVar, LI))
     return true;
 
-  Builder.insertDbgValueIntrinsic(LI->getOperand(0), 0, DIVar, DIExpr,
-                                  DDI->getDebugLoc(), LI);
+  // We are now tracking the loaded value instead of the address. In the
+  // future if multi-location support is added to the IR, it might be
+  // preferable to keep tracking both the loaded value and the original
+  // address in case the alloca can not be elided.
+  Instruction *DbgValue =
+    Builder.insertDbgValueIntrinsic(LI, 0, DIVar, DIExpr,
+                                    DDI->getDebugLoc(), (Instruction*) nullptr);
+  DbgValue->insertAfter(LI);
   return true;
 }
 
@@ -1114,9 +1120,14 @@
           // This is a call by-value or some other instruction that
           // takes a pointer to the variable. Insert a *value*
           // intrinsic that describes the alloca.
+          SmallVector<uint64_t, 1> NewDIExpr;
+          auto *DIExpr = DDI->getExpression();
+          if (DIExpr)
+            NewDIExpr.append(DIExpr->elements_begin(), DIExpr->elements_end());
+          NewDIExpr.push_back(dwarf::DW_OP_deref);
           DIB.insertDbgValueIntrinsic(AI, 0, DDI->getVariable(),
-                                      DDI->getExpression(), DDI->getDebugLoc(),
-                                      CI);
+                                      DIB.createExpression(NewDIExpr),
+                                      DDI->getDebugLoc(), CI);
         }
       DDI->eraseFromParent();
     }
Index: test/Transforms/Util/simplify-dbg-declare-load.ll
===================================================================
--- /dev/null
+++ test/Transforms/Util/simplify-dbg-declare-load.ll
@@ -0,0 +1,52 @@
+; RUN: opt -instcombine -S < %s | FileCheck %s
+target datalayout = "e-m:e-i64:64-f80:128-n8:16:32:64-S128"
+target triple = "x86_64-pc-linux-gnu"
+
+%foo = type { i64, i32, i32 }
+
+; Function Attrs: nounwind readnone
+declare void @llvm.dbg.declare(metadata, metadata, metadata) #0
+declare void @llvm.dbg.value(metadata, i64, metadata, metadata) #0
+
+; Function Attrs: sspreq
+define void @julia_fastshortest_6256() #1 {
+top:
+  %cp = alloca %foo, align 8
+  call void @llvm.dbg.declare(metadata %foo* %cp, metadata !1, metadata !16), !dbg !17
+  br i1 undef, label %idxend, label %fail
+
+fail:                                             ; preds = %top
+  unreachable
+
+idxend:                                           ; preds = %top
+; CHECK-NOT call void @llvm.dbg.value(metadata %foo* %cp, i64 0, metadata !1, metadata !16), !dbg !17
+  %0 = load %foo, %foo* %cp, align 8
+; CHECK: call void @llvm.dbg.value(metadata %foo %0, i64 0, metadata !1, metadata !16), !dbg !17
+  store %foo %0, %foo* undef, align 8
+  ret void
+}
+
+attributes #0 = { nounwind readnone }
+attributes #1 = { sspreq }
+
+!llvm.module.flags = !{!0}
+!llvm.dbg.cu = !{}
+
+!0 = !{i32 1, !"Debug Info Version", i32 3}
+!1 = !DILocalVariable(name: "cp", scope: !2, file: !3, line: 106, type: !12)
+!2 = distinct !DISubprogram(name: "fastshortest", linkageName: "julia_fastshortest_6256", scope: null, file: !3, type: !4, isLocal: false, isDefinition: true, isOptimized: true, variables: !11)
+!3 = !DIFile(filename: "grisu/fastshortest.jl", directory: ".")
+!4 = !DISubroutineType(types: !5)
+!5 = !{!6, !7}
+!6 = !DIBasicType(name: "Float64", size: 64, align: 64, encoding: DW_ATE_unsigned)
+!7 = !DIDerivedType(tag: DW_TAG_pointer_type, baseType: !8, size: 64, align: 64)
+!8 = !DICompositeType(tag: DW_TAG_structure_type, name: "jl_value_t", file: !9, line: 71, align: 64, elements: !10)
+!9 = !DIFile(filename: "julia.h", directory: "")
+!10 = !{!7}
+!11 = !{}
+!12 = !DICompositeType(tag: DW_TAG_structure_type, name: "Float", size: 128, align: 64, elements: !13, runtimeLang: DW_LANG_Julia)
+!13 = !{!14, !15, !15}
+!14 = !DIBasicType(name: "UInt64", size: 64, align: 64, encoding: DW_ATE_unsigned)
+!15 = !DIBasicType(name: "Int32", size: 32, align: 32, encoding: DW_ATE_unsigned)
+!16 = !DIExpression()
+!17 = !DILocation(line: 106, scope: !2)