A system and method for scheduling operations using speculative data operands. In one embodiment, a system may include a scheduler configured to store a speculative source tag and a non-speculative source tag for an operand of an operation and an execution core configured to execute operations issued by the scheduler and to output result tags identifying operands generated by executing the operations. The scheduler may be configured to determine whether the operation is ready to issue by comparing the speculative source tag, but not the non-speculative source tag, to the result tags output by the execution core unless an incorrect speculation has been detected. If an incorrect speculation has been detected, the scheduler may be configured to determine whether the operation is ready to issue by comparing the non-speculative source tag, but not the speculative source tag, to the result tags output by the execution core.