diff --git a/src/ape/exceptions.py b/src/ape/exceptions.py
index 341c2bdce0..04badd8afe 100644
--- a/src/ape/exceptions.py
+++ b/src/ape/exceptions.py
@@ -202,6 +202,7 @@ def __init__(
         # Finalizes expected revert message.
         super().__init__(ex_message)
 
+        self._attempted_source_traceback = False
         if set_ape_traceback:
             self.with_ape_traceback()
 
@@ -250,12 +251,16 @@ def trace(self, value):
     def source_traceback(self) -> Optional["SourceTraceback"]:
         tb = self._source_traceback
         result: Optional["SourceTraceback"]
-        if callable(tb):
+        if not self._attempted_source_traceback and tb is None and self.txn is not None:
+            result = _get_ape_traceback_from_tx(self.txn)
+            # Prevent re-trying.
+            self._attempted_source_traceback = True
+        elif callable(tb):
             result = tb()
-            self._source_traceback = result
         else:
             result = tb
 
+        self._source_traceback = result
         return result
 
     @source_traceback.setter
@@ -263,11 +268,7 @@ def source_traceback(self, value):
         self._source_traceback = value
 
     def _get_ape_traceback(self) -> Optional[TracebackType]:
-        source_tb = self.source_traceback
-        if not source_tb and self.txn:
-            source_tb = _get_ape_traceback_from_tx(self.txn)
-
-        if src_tb := source_tb:
+        if src_tb := self.source_traceback:
             # Create a custom Pythonic traceback using lines from the sources
             # found from analyzing the trace of the transaction.
             if py_tb := _get_custom_python_traceback(self, src_tb, project=self._project):
@@ -335,7 +336,6 @@ def dev_message(self) -> Optional[str]:
         Raises:
             ``ValueError``: When unable to get dev message.
         """
-
         return self.source_traceback.revert_type if self.source_traceback else None
 
     @classmethod
diff --git a/src/ape/types/trace.py b/src/ape/types/trace.py
index d40b1afc84..f314648055 100644
--- a/src/ape/types/trace.py
+++ b/src/ape/types/trace.py
@@ -336,7 +336,6 @@ def revert_type(self) -> Optional[str]:
         The revert type, such as a builtin-error code or a user dev-message,
         if there is one.
         """
-
         return self.statements[-1].type if self.statements[-1].type != "source" else None
 
     def append(self, __object) -> None:
diff --git a/tests/functional/test_exceptions.py b/tests/functional/test_exceptions.py
index 8bbd999672..8007b902fc 100644
--- a/tests/functional/test_exceptions.py
+++ b/tests/functional/test_exceptions.py
@@ -150,6 +150,16 @@ def assert_ape_traceback(err_arg):
 
         assert_ape_traceback(err3)
 
+    def test_source_traceback_from_txn(self, owner):
+        """
+        Was not given a source-traceback but showing we can deduce one from
+        the given transaction.
+        """
+        tx = owner.transfer(owner, 0)
+        err = TransactionError(txn=tx)
+        _ = err.source_traceback
+        assert err._attempted_source_traceback
+
 
 class TestNetworkNotFoundError:
     def test_close_match(self):