diff --git a/gcc/testsuite/c-c++-common/cpp/va-opt-3.c b/gcc/testsuite/c-c++-common/cpp/va-opt-3.c
index 1a5a7b2383e..5b4f1752645 100644
--- a/gcc/testsuite/c-c++-common/cpp/va-opt-3.c
+++ b/gcc/testsuite/c-c++-common/cpp/va-opt-3.c
@@ -85,10 +85,10 @@ t25 f19 (f16 (), 1);
 t26 f20 (f21 (), 2);
 /* { dg-final { scan-file va-opt-3.i "t26 f17 h;" } } */
 t27 f22 (, x);
-/* { dg-final { scan-file va-opt-3.i "t27 123;" } } */
+/* { dg-final { scan-file va-opt-3.i "t27 1 23;" } } */
 t28 f23 (, x);
-/* { dg-final { scan-file va-opt-3.i "t28 123;" } } */
+/* { dg-final { scan-file va-opt-3.i "t28 1 23;" } } */
 t29 f24 (, x);
-/* { dg-final { scan-file va-opt-3.i "t29 123;" } } */
+/* { dg-final { scan-file va-opt-3.i "t29 12 3;" } } */
 t30 f25 (, x);
-/* { dg-final { scan-file va-opt-3.i "t30 123;" } } */
+/* { dg-final { scan-file va-opt-3.i "t30 12 3;" } } */
diff --git a/gcc/testsuite/c-c++-common/cpp/va-opt-7.c b/gcc/testsuite/c-c++-common/cpp/va-opt-7.c
new file mode 100644
index 00000000000..06cdb2534a3
--- /dev/null
+++ b/gcc/testsuite/c-c++-common/cpp/va-opt-7.c
@@ -0,0 +1,101 @@
+/* PR preprocessor/101488 */
+/* { dg-do preprocess } */
+/* { dg-options "-std=gnu99" { target c } } */
+/* { dg-options "-std=c++2a" { target c++ } } */
+
+#define f0() n
+#define f1(x,...) a ## __VA_OPT__ (a) ## a
+#define f2(x,...) a ## __VA_OPT__ () ## a
+#define f3(x,...) a ## __VA_OPT__ (x) ## a
+#define f4(x,...) a ## __VA_OPT__ (x##x) ## a
+#define f5(x,...) a ## __VA_OPT__ (x##x 1) ## a
+#define f6(x,...) a ## __VA_OPT__ (1 x##x) ## a
+#define f7(x,...) __VA_OPT__ (f0 x ## x ) ## 1
+#define f8(x,...) __VA_OPT__ (f0 x) ## 1
+#define f9(x,...) f0 ## __VA_OPT__ (x 1) ## 1
+#define f10(x,...) f0 ## __VA_OPT__ (x ## x 1) ## 1
+#define f11(x, ...) __VA_OPT__(a x ## x) ## b
+#define f12(x, ...) a ## __VA_OPT__(x ## x b)
+#define f13(x) x ## x b
+#define ab def
+#define bc ghi
+#define abc jkl
+#define f14(x, ...) a ## __VA_OPT__(x b x) ## c
+t1 f1(,);
+/* { dg-final { scan-file va-opt-7.i "t1 aa;" } } */
+t2 f1(,1);
+/* { dg-final { scan-file va-opt-7.i "t2 aaa;" } } */
+t3 f1(2,1);
+/* { dg-final { scan-file va-opt-7.i "t3 aaa;" } } */
+t4 f2(,);
+/* { dg-final { scan-file va-opt-7.i "t4 aa;" } } */
+t5 f2(,1);
+/* { dg-final { scan-file va-opt-7.i "t5 aa;" } } */
+t6 f2(2,1);
+/* { dg-final { scan-file va-opt-7.i "t6 aa;" } } */
+t7 f3(,);
+/* { dg-final { scan-file va-opt-7.i "t7 aa;" } } */
+t8 f3(,1);
+/* { dg-final { scan-file va-opt-7.i "t8 aa;" } } */
+t9 f3(2,1);
+/* { dg-final { scan-file va-opt-7.i "t9 a2a;" } } */
+t10 f4(,);
+/* { dg-final { scan-file va-opt-7.i "t10 aa;" } } */
+t11 f4(,1);
+/* { dg-final { scan-file va-opt-7.i "t11 aa;" } } */
+t12 f4(2,1);
+/* { dg-final { scan-file va-opt-7.i "t12 a22a;" } } */
+t13 f5(,);
+/* { dg-final { scan-file va-opt-7.i "t13 aa;" } } */
+t14 f5(,1);
+/* { dg-final { scan-file va-opt-7.i "t14 a 1a;" } } */
+t15 f5(2,1);
+/* { dg-final { scan-file va-opt-7.i "t15 a22 1a;" } } */
+t16 f6(,);
+/* { dg-final { scan-file va-opt-7.i "t16 aa;" } } */
+t17 f6(,1);
+/* { dg-final { scan-file va-opt-7.i "t17 a1 a;" } } */
+t18 f6(2,1);
+/* { dg-final { scan-file va-opt-7.i "t18 a1 22a;" } } */
+t19 f7(,);
+/* { dg-final { scan-file va-opt-7.i "t19 1;" } } */
+t20 f7(,1);
+/* { dg-final { scan-file va-opt-7.i "t20 f0 1;" } } */
+t21 f7(2,1);
+/* { dg-final { scan-file va-opt-7.i "t21 f0 221;" } } */
+t22 f8(,);
+/* { dg-final { scan-file va-opt-7.i "t22 1;" } } */
+t23 f8(,1);
+/* { dg-final { scan-file va-opt-7.i "t23 f0 1;" } } */
+t24 f8(2,1);
+/* { dg-final { scan-file va-opt-7.i "t24 f0 21;" } } */
+t25 f9(,);
+/* { dg-final { scan-file va-opt-7.i "t25 f01;" } } */
+t26 f9(,1);
+/* { dg-final { scan-file va-opt-7.i "t26 f0 11;" } } */
+t27 f9(2,1);
+/* { dg-final { scan-file va-opt-7.i "t27 f02 11;" } } */
+t28 f10(,);
+/* { dg-final { scan-file va-opt-7.i "t28 f01;" } } */
+t29 f10(,1);
+/* { dg-final { scan-file va-opt-7.i "t29 f0 11;" } } */
+t30 f10(2,1);
+/* { dg-final { scan-file va-opt-7.i "t30 f022 11;" } } */
+t31 f11(,);
+/* { dg-final { scan-file va-opt-7.i "t31 b;" } } */
+t32 f11(,1);
+/* { dg-final { scan-file va-opt-7.i "t32 a b;" } } */
+t33 f11(2,1);
+/* { dg-final { scan-file va-opt-7.i "t33 a 22b;" } } */
+t34 f12(,);
+/* { dg-final { scan-file va-opt-7.i "t34 a;" } } */
+t35 f12(,1);
+/* { dg-final { scan-file va-opt-7.i "t35 a b;" } } */
+t36 f12(2,1);
+/* { dg-final { scan-file va-opt-7.i "t36 a22 b;" } } */
+t37 f14(,);
+/* { dg-final { scan-file va-opt-7.i "t37 ac;" } } */
+t38 f14(,1);
+/* { dg-final { scan-file va-opt-7.i "t38 a b c;" } } */
+t39 f14(f13(),1);
+/* { dg-final { scan-file va-opt-7.i "t39 def b ghi;" } } */
diff --git a/libcpp/macro.c b/libcpp/macro.c
index c317a433b48..b3ba352ae09 100644
--- a/libcpp/macro.c
+++ b/libcpp/macro.c
@@ -2026,6 +2026,7 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
   i = 0;
   vaopt_state vaopt_tracker (pfile, macro->variadic, &args[macro->paramc - 1]);
   const cpp_token **vaopt_start = NULL;
+  unsigned vaopt_padding_tokens = 0;
   for (src = macro->exp.tokens; src < limit; src++)
     {
       unsigned int arg_tokens_count;
@@ -2035,7 +2036,7 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 
       /* __VA_OPT__ handling.  */
       vaopt_state::update_type vostate = vaopt_tracker.update (src);
-      if (vostate != vaopt_state::INCLUDE)
+      if (__builtin_expect (vostate != vaopt_state::INCLUDE, false))
 	{
 	  if (vostate == vaopt_state::BEGIN)
 	    {
@@ -2060,7 +2061,9 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 
 	      /* Remove any tail padding from inside the __VA_OPT__.  */
 	      paste_flag = tokens_buff_last_token_ptr (buff);
-	      while (paste_flag && paste_flag != start
+	      while (vaopt_padding_tokens--
+		     && paste_flag
+		     && paste_flag != start
 		     && (*paste_flag)->type == CPP_PADDING)
 		{
 		  tokens_buff_remove_last_token (buff);
@@ -2104,6 +2107,7 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 	  continue;
 	}
 
+      vaopt_padding_tokens = 0;
       if (src->type != CPP_MACRO_ARG)
 	{
 	  /* Allocate a virtual location for token SRC, and add that
@@ -2181,11 +2185,8 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 		  else
 		    paste_flag = tmp_token_ptr;
 		}
-	      /* Remove the paste flag if the RHS is a placemarker, unless the
-		 previous emitted token is at the beginning of __VA_OPT__;
-		 placemarkers within __VA_OPT__ are ignored in that case.  */
-	      else if (arg_tokens_count == 0
-		       && tmp_token_ptr != vaopt_start)
+	      /* Remove the paste flag if the RHS is a placemarker.  */
+	      else if (arg_tokens_count == 0)
 		paste_flag = tmp_token_ptr;
 	    }
 	}
@@ -2215,7 +2216,8 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 
       /* Padding on the left of an argument (unless RHS of ##).  */
       if ((!pfile->state.in_directive || pfile->state.directive_wants_padding)
-	  && src != macro->exp.tokens && !(src[-1].flags & PASTE_LEFT)
+	  && src != macro->exp.tokens
+	  && !(src[-1].flags & PASTE_LEFT)
 	  && !last_token_is (buff, vaopt_start))
 	{
 	  const cpp_token *t = padding_token (pfile, src);
@@ -2260,8 +2262,12 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 		token_index += j;
 
 	      index = expanded_token_index (pfile, macro, src, token_index);
-	      tokens_buff_add_token (buff, virt_locs,
-				     macro_arg_token_iter_get_token (&from),
+	      const cpp_token *tok = macro_arg_token_iter_get_token (&from);
+	      if (tok->type == CPP_PADDING)
+		vaopt_padding_tokens++;
+	      else
+		vaopt_padding_tokens = 0;
+	      tokens_buff_add_token (buff, virt_locs, tok,
 				     macro_arg_token_iter_get_location (&from),
 				     src->src_loc, map, index);
 	      macro_arg_token_iter_forward (&from);
@@ -2301,13 +2307,13 @@ replace_args (cpp_reader *pfile, cpp_hashnode *node, cpp_macro *macro,
 		     NODE_NAME (node), src->val.macro_arg.arg_no);
 
       /* Avoid paste on RHS (even case count == 0).  */
-      if (!pfile->state.in_directive && !(src->flags & PASTE_LEFT)
-	  && !last_token_is (buff, vaopt_start))
+      if (!pfile->state.in_directive && !(src->flags & PASTE_LEFT))
 	{
 	  const cpp_token *t = &pfile->avoid_paste;
 	  tokens_buff_add_token (buff, virt_locs,
 				 t, t->src_loc, t->src_loc,
 				 NULL, 0);
+	  vaopt_padding_tokens++;
 	}
 
       /* Add a new paste flag, or remove an unwanted one.  */