diff --git a/spec/compiler/parser/to_s_spec.cr b/spec/compiler/parser/to_s_spec.cr
index a339b120d328..276e0380b9fb 100644
--- a/spec/compiler/parser/to_s_spec.cr
+++ b/spec/compiler/parser/to_s_spec.cr
@@ -246,7 +246,13 @@ describe "ASTNode#to_s" do
   expect_to_s "1.+(&block)"
   expect_to_s "1.//(2, a: 3)"
   expect_to_s "1.//(2, &block)"
-  expect_to_s %({% verbatim do %}\n  1{{ 2 }}\n  3{{ 4 }}\n{% end %})
+  expect_to_s <<-'CR'
+    {% verbatim do %}
+      1{{ 2 }}
+      3{{ 4 }}
+    {% end %}
+    CR
+
   expect_to_s %({% for foo in bar %}\n  {{ if true\n  foo\n  bar\nend }}\n{% end %})
   expect_to_s "{% a = 1 %}"
   expect_to_s "{{ a = 1 }}"
@@ -256,6 +262,64 @@ describe "ASTNode#to_s" do
   expect_to_s "{%\n  a = 1 %}", "{%\n  a = 1\n%}"
   expect_to_s "{% a = 1\n%}", "{% a = 1 %}"
 
+  # FIXME: Should respect significant whitespace
+  expect_to_s <<-'CR', <<-'CR'
+    macro finished
+      {% verbatim do %}
+        {%
+          10
+
+          # Foo
+
+          20
+        %}
+      {% end %}
+    end
+    CR
+    macro finished
+      {% verbatim do %}
+        {%
+          10
+          20
+        %}
+      {% end %}
+    end
+    CR
+
+  # FIXME: Should respect significant whitespace
+  expect_to_s <<-'CR', <<-'CR'
+    macro finished
+      {% verbatim do %}
+        {%
+          10
+
+          # Foo
+          20
+        %}
+      {% end %}
+    end
+    CR
+    macro finished
+      {% verbatim do %}
+        {%
+          10
+          20
+        %}
+      {% end %}
+    end
+    CR
+
+  expect_to_s <<-'CR' # , focus: true
+    macro finished
+      {% verbatim do %}
+        {%
+          10
+          20
+        %}
+      {% end %}
+    end
+    CR
+
   expect_to_s %(asm("nop" ::::))
   expect_to_s %(asm("nop" : "a"(1), "b"(2) : "c"(3), "d"(4) : "e", "f" : "volatile", "alignstack", "intel"))
   expect_to_s %(asm("nop" :: "c"(3), "d"(4) ::))
diff --git a/src/compiler/crystal/syntax/to_s.cr b/src/compiler/crystal/syntax/to_s.cr
index a6537027ce5e..8206f92053d2 100644
--- a/src/compiler/crystal/syntax/to_s.cr
+++ b/src/compiler/crystal/syntax/to_s.cr
@@ -223,7 +223,9 @@ module Crystal
       else
         node.expressions.each_with_index do |exp, i|
           unless exp.nop?
-            append_indent unless node.keyword.paren? && i == 0
+            if !exp.is_a?(MacroLiteral) || !exp.value.blank?
+              append_indent unless node.keyword.paren? && i == 0
+            end
             exp.accept self
             newline unless node.keyword.paren? && i == node.expressions.size - 1
           end
@@ -717,9 +719,11 @@ module Crystal
       end
       newline
 
+      @indent += 1
       inside_macro do
         accept node.body
       end
+      @indent -= 1
 
       # newline
       append_indent
@@ -738,7 +742,7 @@ module Crystal
       outside_macro do
         # If the MacroExpression consists of a single node we need to manually handle appending indent and trailing newline if #multiline?
         # Otherwise, the Expressions logic handles that for us
-        if !node.exp.is_a? Expressions
+        if node.multiline? && !node.exp.is_a?(Expressions)
           append_indent
         end
 
@@ -747,6 +751,7 @@ module Crystal
 
       if node.multiline?
         @indent -= 1
+        append_indent
         newline if !node.exp.is_a? Expressions
       end
 
@@ -806,9 +811,13 @@ module Crystal
 
     def visit(node : MacroVerbatim)
       @str << "{% verbatim do %}"
+
+      @indent += 1
       inside_macro do
         node.exp.accept self
       end
+      @indent -= 1
+
       @str << "{% end %}"
       false
     end