diff --git a/src/trackChangesModel.ts b/src/trackChangesModel.ts
index 02dc7ea..84dbfa8 100644
--- a/src/trackChangesModel.ts
+++ b/src/trackChangesModel.ts
@@ -793,8 +793,22 @@ export function renderReview(
   opts: RenderOptions = {},
 ): string {
   const render = opts.render ?? defaultRender;
-  const ranges = splitBlocksWithRanges(currentText);
-  const ops = diffBlocks(baselineText, currentText);
+
+  // F12/#64 (INV-50): with optimistic apply the proposed text is already in
+  // `currentText`, so a naive baseline→current diff would render each proposed
+  // change BOTH as a landed diff and as its proposal block. Diff against
+  // `currentText` with every resolved pending proposal reverted to its original,
+  // so the landed diff excludes pending proposals; they render once, as proposals.
+  const pendingApplied = proposals
+    .filter((p) => p.anchorStart !== null)
+    .sort((a, b) => b.anchorStart! - a.anchorStart!);
+  let landedText = currentText;
+  for (const p of pendingApplied) {
+    landedText = landedText.slice(0, p.anchorStart!) + p.replaced + landedText.slice(p.anchorEnd!);
+  }
+
+  const ranges = splitBlocksWithRanges(landedText);
+  const ops = diffBlocks(baselineText, landedText);
   // #48: right after a PIN (baseline reason "pinned") with no changes since, the
   // panel is fully clean: no change marks (already absent) AND no authorship
   // coloring, so the pin reads as "this is my clean starting point". Skip
@@ -804,7 +818,17 @@ export function renderReview(
   // its authorship coloring (F10 INV-33), so this is gated on the pin specifically.
   const clean = opts.pinned === true && ops.every((o) => o.kind === "unchanged");
 
-  // Associate each resolved proposal with the current-side block index whose range
+  // Map a currentText offset to its landedText offset (account for reverted spans
+  // that precede it; reverts were applied high→low so the cumulative delta is stable).
+  const toLanded = (curOff: number): number => {
+    let delta = 0;
+    for (const p of [...pendingApplied].sort((a, b) => a.anchorStart! - b.anchorStart!)) {
+      if (p.anchorStart! < curOff) delta += p.replaced.length - (p.anchorEnd! - p.anchorStart!);
+    }
+    return curOff + delta;
+  };
+
+  // Associate each resolved proposal with the landedText block index whose range
   // it anchors into: the largest block with start <= anchorStart (the containing
   // block, or the nearest preceding block when the anchor sits in a gap). A
   // resolved anchor before all blocks, and every unresolved proposal, trails.
@@ -816,7 +840,7 @@ export function renderReview(
   const byBlock = new Map<number, ProposalView[]>();
   const trailing: ProposalView[] = [];
   for (const p of proposals) {
-    const j = p.anchorStart === null ? -1 : blockOf(p.anchorStart);
+    const j = p.anchorStart === null ? -1 : blockOf(toLanded(p.anchorStart));
     if (j < 0) {
       trailing.push(p);
       continue;
diff --git a/test/e2e/suite/f12InlineDiff.test.ts b/test/e2e/suite/f12InlineDiff.test.ts
index a1d6366..192364c 100644
--- a/test/e2e/suite/f12InlineDiff.test.ts
+++ b/test/e2e/suite/f12InlineDiff.test.ts
@@ -117,6 +117,18 @@ suite("F12 inline diff — finalize / revert in place (#64, INV-51)", () => {
   });
 });
 
+suite("F12 inline diff — INV-50 listProposals.replaced", () => {
+  test("listProposals reports the original as `replaced` after optimistic apply", async () => {
+    const { doc } = await freshDoc("docs/f12-replaced.md", "# R\n\nbrown here.\n");
+    const api = await getApi();
+    const ctl = api.trackChangesPreviewController;
+    ctl.setEditTurnForTest(async () => ({ replacement: "# R\n\nred here.\n", model: "m", sessionId: "s" }));
+    await ctl.runEditAndPropose(doc, { kind: "document" }, "x");
+    await settle(); await settle();
+    assert.strictEqual(api.proposalController.listProposals(doc)[0].replaced, "brown here.");
+  });
+});
+
 suite("F12 inline diff — editor surface (#64, INV-48/52)", () => {
   test("proposing optimistically applies into the editor and the buffer is the accepted result", async () => {
     const { doc } = await freshDoc("docs/f12-editor.md", "# E\n\nThe brown fox runs.\n");
diff --git a/test/trackChangesModel.test.ts b/test/trackChangesModel.test.ts
index 0b396fa..800c590 100644
--- a/test/trackChangesModel.test.ts
+++ b/test/trackChangesModel.test.ts
@@ -375,6 +375,23 @@ describe("renderReview", () => {
     const b = renderReview(doc, doc, [], proposals);
     expect(a).toBe(b);
   });
+
+  test("renderReview renders an applied proposal ONCE, not also as a landed diff (INV-50)", () => {
+    const baseline = "# T\n\nThe brown fox.\n";
+    const current = "# T\n\nThe red fox.\n"; // proposal already optimistically applied
+    const proposals: ProposalView[] = [{
+      id: "pr_1",
+      anchorStart: current.indexOf("The red fox."),
+      anchorEnd: current.indexOf("The red fox.") + "The red fox.".length,
+      replaced: "The brown fox.",      // original
+      replacement: "The red fox.",
+    }];
+    const html = renderReview(baseline, current, [], proposals);
+    // exactly one proposal block
+    expect((html.match(/cw-proposal/g) ?? []).length).toBe(1);
+    // the applied paragraph is NOT also emitted as a word-merged changed block
+    expect(html).not.toContain("<del>brown</del>"); // no double-render of the change as a baseline diff
+  });
 });
 
 import { renderTrackChanges as rtc2 } from "../src/trackChangesModel";