diff --git a/migration/migration.c b/migration/migration.c
index b307a4bc59..a9599838e6 100644
--- a/migration/migration.c
+++ b/migration/migration.c
@@ -735,14 +735,16 @@ static void process_incoming_migration_bh(void *opaque)
 static void coroutine_fn
 process_incoming_migration_co(void *opaque)
 {
+    MigrationState *s = migrate_get_current();
     MigrationIncomingState *mis = migration_incoming_get_current();
     PostcopyState ps;
     int ret;
+    Error *local_err = NULL;
 
     assert(mis->from_src_file);
 
     if (compress_threads_load_setup(mis->from_src_file)) {
-        error_report("Failed to setup decompress threads");
+        error_setg(&local_err, "Failed to setup decompress threads");
         goto fail;
     }
 
@@ -779,19 +781,12 @@ process_incoming_migration_co(void *opaque)
     }
 
     if (ret < 0) {
-        MigrationState *s = migrate_get_current();
-
-        if (migrate_has_error(s)) {
-            WITH_QEMU_LOCK_GUARD(&s->error_mutex) {
-                error_report_err(s->error);
-                s->error = NULL;
-            }
-        }
-        error_report("load of migration failed: %s", strerror(-ret));
+        error_setg(&local_err, "load of migration failed: %s", strerror(-ret));
         goto fail;
     }
 
     if (colo_incoming_co() < 0) {
+        error_setg(&local_err, "colo incoming failed");
         goto fail;
     }
 
@@ -800,8 +795,16 @@ process_incoming_migration_co(void *opaque)
 fail:
     migrate_set_state(&mis->state, MIGRATION_STATUS_ACTIVE,
                       MIGRATION_STATUS_FAILED);
+    migrate_set_error(s, local_err);
+    error_free(local_err);
+
     migration_incoming_state_destroy();
 
+    WITH_QEMU_LOCK_GUARD(&s->error_mutex) {
+        error_report_err(s->error);
+        s->error = NULL;
+    }
+
     exit(EXIT_FAILURE);
 }