diff --git a/src/coretrace_python/frontend/lowering.py b/src/coretrace_python/frontend/lowering.py
index b2be307..155384d 100644
--- a/src/coretrace_python/frontend/lowering.py
+++ b/src/coretrace_python/frontend/lowering.py
@@ -13,9 +13,11 @@
     GetAttr,
     GetItem,
     Global,
+    LoadLocal,
     ModuleIR,
     Return,
     SourceLocation,
+    StoreLocal,
     UnaryOp,
     Value,
 )
@@ -61,6 +63,7 @@ class _FunctionLowerer:
     next_value_id: int = 0
     locals: dict[str, Value] = field(default_factory=dict)
     block: BasicBlock = field(default_factory=lambda: BasicBlock("entry"))
+    parameters: dict[str, Value] = field(default_factory=dict)
 
     def location(self, node: ast.AST) -> SourceLocation:
         return SourceLocation(
@@ -91,7 +94,9 @@ def expression(self, node: ast.expr) -> Value:
         location = self.location(node)
         if isinstance(node, ast.Name):
             if node.id in self.locals:
-                return self.locals[node.id]
+                return self.emit(LoadLocal(self.new_value(), location, node.id))
+            if node.id in self.parameters:
+                return self.parameters[node.id]
             return self.emit(Global(self.new_value(), location, node.id))
         if isinstance(node, ast.Constant):
             return self.emit(Constant(self.new_value(), location, node.value))
@@ -152,7 +157,10 @@ def statement(self, node: ast.stmt) -> None:
         if isinstance(node, ast.Assign):
             if len(node.targets) != 1 or not isinstance(node.targets[0], ast.Name):
                 self.fail(node, "only assignment to one local name is supported")
-            self.locals[node.targets[0].id] = self.expression(node.value)
+            name = node.targets[0].id
+            value = self.expression(node.value)
+            self.emit(StoreLocal(None, self.location(node), name, value))
+            self.locals[name] = value
             return
         if isinstance(node, ast.Return):
             value = self.expression(node.value) if node.value is not None else None
@@ -175,7 +183,7 @@ def function(self, node: ast.FunctionDef | ast.AsyncFunctionDef) -> FunctionIR:
             self.fail(node.args, "only positional arguments are supported")
         parameters = tuple(self.new_value() for _ in node.args.args)
         argument_names = (argument.arg for argument in node.args.args)
-        self.locals.update(zip(argument_names, parameters, strict=True))
+        self.parameters.update(zip(argument_names, parameters, strict=True))
         for statement in node.body:
             self.statement(statement)
         return FunctionIR(node.name, parameters, (self.block,), self.location(node))
diff --git a/src/coretrace_python/ir/model.py b/src/coretrace_python/ir/model.py
index 87213fa..7ccaa22 100644
--- a/src/coretrace_python/ir/model.py
+++ b/src/coretrace_python/ir/model.py
@@ -94,8 +94,33 @@ class Return:
     value: Value | None
 
 
+@dataclass(frozen=True)
+class LoadLocal:
+    result: Value
+    location: SourceLocation
+    name: str
+
+
+@dataclass(frozen=True)
+class StoreLocal:
+    result: None
+    location: SourceLocation
+    name: str
+    value: Value
+
+
 Instruction: TypeAlias = (
-    Constant | Global | BinaryOp | UnaryOp | Compare | Call | GetAttr | GetItem | Return
+    Constant
+    | Global
+    | BinaryOp
+    | UnaryOp
+    | Compare
+    | Call
+    | GetAttr
+    | GetItem
+    | LoadLocal
+    | StoreLocal
+    | Return
 )
 
 
diff --git a/src/coretrace_python/ir/printer.py b/src/coretrace_python/ir/printer.py
index cfda6c2..db5a385 100644
--- a/src/coretrace_python/ir/printer.py
+++ b/src/coretrace_python/ir/printer.py
@@ -9,8 +9,10 @@
     GetItem,
     Global,
     Instruction,
+    LoadLocal,
     ModuleIR,
     Return,
+    StoreLocal,
     UnaryOp,
     Value,
 )
@@ -53,6 +55,10 @@ def _instruction(instruction: Instruction) -> str:
             f"{_value(instruction.result)} = get_item {_value(instruction.object)}, "
             f"{_value(instruction.key)}"
         )
+    if isinstance(instruction, LoadLocal):
+        return f'{_value(instruction.result)} = load_local "{instruction.name}"'
+    if isinstance(instruction, StoreLocal):
+        return f'store_local "{instruction.name}", {_value(instruction.value)}'
     if isinstance(instruction, Return):
         return "return" if instruction.value is None else f"return {_value(instruction.value)}"
     raise TypeError(f"unknown instruction: {instruction!r}")
diff --git a/tests/test_emit_ir.py b/tests/test_emit_ir.py
index a0ff65b..3fb9776 100644
--- a/tests/test_emit_ir.py
+++ b/tests/test_emit_ir.py
@@ -10,7 +10,9 @@ def test_emit_ir_golden(tmp_path, capsys) -> None:
         "func @add(%0, %1) {\n"
         "entry:\n"
         "    %2 = binary.add %0, %1\n"
-        "    return %2\n"
+        '    store_local "x", %2\n'
+        '    %3 = load_local "x"\n'
+        "    return %3\n"
         "}\n"
     )
 
@@ -41,3 +43,24 @@ def test_emit_ir_for_call(tmp_path, capsys) -> None:
     output = capsys.readouterr().out
     assert "%1 = global 'print'" in output
     assert "%2 = call %1(%0)" in output
+
+
+def test_emit_ir_for_local_assignment(tmp_path, capsys) -> None:
+    source = tmp_path / "locals.py"
+    source.write_text(
+        "def calculate(a, b):\n"
+        "    result = a + b\n"
+        "    return result\n",
+        encoding="utf-8",
+    )
+
+    assert main(["--emit-ir", str(source)]) == 0
+    assert capsys.readouterr().out == (
+        "func @calculate(%0, %1) {\n"
+        "entry:\n"
+        "    %2 = binary.add %0, %1\n"
+        '    store_local "result", %2\n'
+        '    %3 = load_local "result"\n'
+        "    return %3\n"
+        "}\n"
+    )