diff --git a/ethcore/src/executive.rs b/ethcore/src/executive.rs
index 200ec545364..db1372d929b 100644
--- a/ethcore/src/executive.rs
+++ b/ethcore/src/executive.rs
@@ -429,8 +429,10 @@ impl<'a, B: 'a + StateBackend> Executive<'a, B> {
 					output.write(0, &builtin_out_buffer);
 
 					let mut trace_output = tracer.prepare_trace_output();
-					if let Some(out) = trace_output.as_mut() {
-						*out = output.to_owned();
+					if self.depth == 0 {
+						if let Some(out) = trace_output.as_mut() {
+							*out = output.to_owned();
+						}
 					}
 
 					tracer.trace_call(