diff --git a/mm/shmem.c b/mm/shmem.c
index eb2e6e50630c..897f19ed0fe3 100644
--- a/mm/shmem.c
+++ b/mm/shmem.c
@@ -1177,12 +1177,11 @@ static void shmem_delete_from_page_cache(struct folio *folio, void *radswap)
 }
 
 /*
- * Remove swap entry from page cache, free the swap and its page cache. Returns
- * the number of pages being freed. 0 means entry not found in XArray (0 pages
- * being freed).
+ * Remove a swap entry or swapin-error marker wholly within [index, end].
+ * Return whether it was removed, counting freed swap pages in nr_swaps_freed.
  */
-static long shmem_free_swap(struct address_space *mapping,
-			    pgoff_t index, pgoff_t end, void *radswap)
+static bool shmem_free_swap(struct address_space *mapping,
+		pgoff_t index, pgoff_t end, void *radswap, long *nr_swaps_freed)
 {
 	XA_STATE(xas, &mapping->i_pages, index);
 	const softleaf_t swp = radix_to_swp_entry(radswap);
@@ -1203,8 +1202,10 @@ static long shmem_free_swap(struct address_space *mapping,
 	xas_unlock_irq(&xas);
 
 	/* A swapin-error marker holds no swap slot, so just drop it. */
-	if (nr_pages && softleaf_is_swap(swp))
+	if (nr_pages && softleaf_is_swap(swp)) {
 		swap_put_entries_direct(swp, nr_pages);
+		*nr_swaps_freed += nr_pages;
+	}
 
 	return nr_pages;
 }
@@ -1358,8 +1359,8 @@ static void shmem_undo_range(struct inode *inode, loff_t lstart, uoff_t lend,
 			if (xa_is_value(folio)) {
 				if (unfalloc)
 					continue;
-				nr_swaps_freed += shmem_free_swap(mapping, indices[i],
-								  end - 1, folio);
+				shmem_free_swap(mapping, indices[i], end - 1,
+						folio, &nr_swaps_freed);
 				continue;
 			}
 
@@ -1422,13 +1423,11 @@ static void shmem_undo_range(struct inode *inode, loff_t lstart, uoff_t lend,
 
 			if (xa_is_value(folio)) {
 				int order;
-				long swaps_freed;
 
 				if (unfalloc)
 					continue;
-				swaps_freed = shmem_free_swap(mapping, indices[i],
-							      end - 1, folio);
-				if (!swaps_freed) {
+				if (!shmem_free_swap(mapping, indices[i], end - 1,
+						     folio, &nr_swaps_freed)) {
 					pgoff_t base = indices[i];
 
 					order = shmem_confirm_swap(mapping, indices[i],
@@ -1449,7 +1448,6 @@ static void shmem_undo_range(struct inode *inode, loff_t lstart, uoff_t lend,
 					index = base;
 					break;
 				}
-				nr_swaps_freed += swaps_freed;
 				continue;
 			}
 
@@ -2409,11 +2407,10 @@ static void shmem_set_folio_swapin_error(struct inode *inode, pgoff_t index,
 	folio_put_swap(folio, NULL);
 	swap_cache_del_folio(folio);
 	/*
-	 * Don't treat swapin error folio as alloced. Otherwise inode->i_blocks
-	 * won't be 0 when inode is released and thus trigger WARN_ON(i_blocks)
-	 * in shmem_evict_inode().
+	 * Let shmem_recalc_inode() reduce alloced and release the block charge
+	 * for the freed swap pages.
 	 */
-	shmem_recalc_inode(inode, -nr_pages, -nr_pages);
+	shmem_recalc_inode(inode, 0, -nr_pages);
 }
 
 static int shmem_split_large_entry(struct inode *inode, pgoff_t index,