diff --git a/src/CHANGELOG b/src/CHANGELOG
index ed5ec00aa..673894928 100644
--- a/src/CHANGELOG
+++ b/src/CHANGELOG
@@ -82,6 +82,8 @@ ECL 0.9l-p1:
  - Inline/not-inline declarations for SETF-functions are not ignored (Josh
    Elsasser).
 
+ - When a SETF place is a macro, it has to be expanded with MACROEXPAND-1.
+
 ;;; Local Variables: ***
 ;;; mode:text ***
 ;;; fill-column:79 ***
diff --git a/src/lsp/setf.lsp b/src/lsp/setf.lsp
index 56b681c75..2ec6b3f52 100644
--- a/src/lsp/setf.lsp
+++ b/src/lsp/setf.lsp
@@ -110,8 +110,10 @@ Does not check if the third gang is a single-element list."
 	       (push item names))
 	     (push item all-args))
 	   (values (gensym) (nreverse names) (nreverse values) (nreverse all-args))))
+    ;; Note that macroexpansion of SETF arguments can only be done via
+    ;; MACROEXPAND-1 [ANSI 5.1.2.7]
     (cond ((symbolp form)
-	   (if (and (setq f (macroexpand form env)) (not (equal f form)))
+	   (if (and (setq f (macroexpand-1 form env)) (not (equal f form)))
 	       (get-setf-expansion f env)
 	       (let ((store (gensym)))
 		 (values nil nil (list store) `(setq ,form ,store) form))))
@@ -130,7 +132,7 @@ Does not check if the third gang is a single-element list."
 			    (setf-structure-access (car all) (car f) (cdr f) store))
 			   ((setq f (get-sysprop (car form) 'SETF-LAMBDA))
 			    (apply f store all))
-			   ((and (setq f (macroexpand form env)) (not (equal f form)))
+			   ((and (setq f (macroexpand-1 f env)) (not (equal f form)))
 			    (return-from get-setf-expansion
 			      (get-setf-expansion f env)))
 			   (t