diff --git a/src-tauri/src/vault/mod.rs b/src-tauri/src/vault/mod.rs
index bf9266ff..1e422c93 100644
--- a/src-tauri/src/vault/mod.rs
+++ b/src-tauri/src/vault/mod.rs
@@ -60,7 +60,7 @@ pub struct VaultEntry {
     pub color: Option<String>,
     /// Display order for Type entries in sidebar (lower = higher). None = use default order.
     pub order: Option<i64>,
-    /// All wikilink targets found in the note content (body + frontmatter).
+    /// All wikilink targets found in the note body (excludes frontmatter).
     /// Extracted from `[[target]]` and `[[target|display]]` patterns.
     #[serde(rename = "outgoingLinks", default)]
     pub outgoing_links: Vec<String>,
@@ -268,7 +268,7 @@ pub fn parse_md_file(path: &Path) -> Result<VaultEntry, String> {
 
     let title = extract_title(&parsed.content, &filename);
     let snippet = extract_snippet(&content);
-    let outgoing_links = extract_outgoing_links(&content);
+    let outgoing_links = extract_outgoing_links(&parsed.content);
     let (modified_at, file_size) = read_file_metadata(path)?;
     let created_at = parse_created_at(&frontmatter);
     let is_a = resolve_is_a(frontmatter.is_a, path);
@@ -951,11 +951,11 @@ References:
     }
 
     #[test]
-    fn test_outgoing_links_includes_frontmatter_wikilinks() {
+    fn test_outgoing_links_excludes_frontmatter_wikilinks() {
         let dir = TempDir::new().unwrap();
         let content = "---\nHas:\n  - \"[[task/design]]\"\n---\n# Note\n\nSee [[person/bob]].";
         let entry = parse_test_entry(&dir, "note/test.md", content);
-        assert!(entry.outgoing_links.contains(&"task/design".to_string()));
+        assert!(!entry.outgoing_links.contains(&"task/design".to_string()));
         assert!(entry.outgoing_links.contains(&"person/bob".to_string()));
     }
 
diff --git a/src/components/Inspector.test.tsx b/src/components/Inspector.test.tsx
index 9dda1957..b95a18c7 100644
--- a/src/components/Inspector.test.tsx
+++ b/src/components/Inspector.test.tsx
@@ -575,6 +575,47 @@ Status: Active
       expect(screen.getByText(/via Topics/)).toBeInTheDocument()
     })
 
+    it('excludes entries from backlinks when already shown in referenced-by', () => {
+      const noteA: VaultEntry = {
+        path: '/Users/luca/Laputa/essay/on-writing.md',
+        filename: 'on-writing.md',
+        title: 'On Writing Well',
+        isA: 'Essay',
+        aliases: [],
+        belongsTo: ['[[responsibility/grow-newsletter]]'],
+        relatedTo: [],
+        status: null,
+        owner: null,
+        cadence: null,
+        archived: false,
+        trashed: false,
+        trashedAt: null,
+        modifiedAt: 1707900000,
+        createdAt: null,
+        fileSize: 300,
+        snippet: '',
+        relationships: { 'Belongs to': ['[[responsibility/grow-newsletter]]'], 'Type': ['[[type/essay]]'] },
+        icon: null,
+        color: null,
+        order: null,
+        // Body text also links to grow-newsletter
+        outgoingLinks: ['responsibility/grow-newsletter'],
+      }
+      render(
+        <Inspector
+          {...defaultProps}
+          entry={targetEntry}
+          content={targetContent}
+          entries={[targetEntry, noteA]}
+        />
+      )
+      // noteA shows in Referenced By (via Belongs to)
+      expect(screen.getByText(/via Belongs to/)).toBeInTheDocument()
+      expect(screen.getByText('On Writing Well')).toBeInTheDocument()
+      // But NOT in Backlinks (even though outgoingLinks matches)
+      expect(screen.getByText('No backlinks')).toBeInTheDocument()
+    })
+
     it('does not show self-references', () => {
       const selfRef: VaultEntry = {
         ...targetEntry,
diff --git a/src/components/Inspector.tsx b/src/components/Inspector.tsx
index ceb4705b..1e549065 100644
--- a/src/components/Inspector.tsx
+++ b/src/components/Inspector.tsx
@@ -25,7 +25,7 @@ interface InspectorProps {
   onAddProperty?: (path: string, key: string, value: FrontmatterValue) => Promise<void>
 }
 
-function useBacklinks(entry: VaultEntry | null, entries: VaultEntry[]): VaultEntry[] {
+function useBacklinks(entry: VaultEntry | null, entries: VaultEntry[], referencedBy: ReferencedByItem[]): VaultEntry[] {
   return useMemo(() => {
     if (!entry) return []
     const matchTargets = new Set([
@@ -34,13 +34,16 @@ function useBacklinks(entry: VaultEntry | null, entries: VaultEntry[]): VaultEnt
       entry.path.replace(/^.*\/Laputa\//, '').replace(/\.md$/, ''),
     ])
 
+    const referencedByPaths = new Set(referencedBy.map((item) => item.entry.path))
+
     return entries.filter((e) => {
       if (e.path === entry.path) return false
+      if (referencedByPaths.has(e.path)) return false
       return e.outgoingLinks.some((target) =>
         matchTargets.has(target) || matchTargets.has(target.split('/').pop() ?? '')
       )
     })
-  }, [entry, entries])
+  }, [entry, entries, referencedBy])
 }
 
 function useReferencedBy(entry: VaultEntry | null, entries: VaultEntry[]): ReferencedByItem[] {
@@ -118,8 +121,8 @@ export function Inspector({
   collapsed, onToggle, entry, content, entries, gitHistory, onNavigate,
   onViewCommitDiff, onUpdateFrontmatter, onDeleteProperty, onAddProperty,
 }: InspectorProps) {
-  const backlinks = useBacklinks(entry, entries)
   const referencedBy = useReferencedBy(entry, entries)
+  const backlinks = useBacklinks(entry, entries, referencedBy)
   const frontmatter = useMemo(() => parseFrontmatter(content), [content])
   const typeEntryMap = useMemo(() => {
     const map: Record<string, VaultEntry> = {}