diff --git a/pandas/tests/indexing/test_indexing.py b/pandas/tests/indexing/test_indexing.py
index 472b29981e78c..ae5bf783e9d8a 100644
--- a/pandas/tests/indexing/test_indexing.py
+++ b/pandas/tests/indexing/test_indexing.py
@@ -829,6 +829,17 @@ def test_no_reference_cycle(self):
         del df
         assert wr() is None
 
+    def test_label_indexing_on_nan(self):
+        # GH 32431
+        df = Series([1, "{1,2}", 1, None])
+        vc = df.value_counts(dropna=False)
+        result1 = vc.loc[np.nan]
+        result2 = vc[np.nan]
+
+        expected = 1
+        assert result1 == expected
+        assert result2 == expected
+
 
 class TestSeriesNoneCoercion:
     EXPECTED_RESULTS = [