diff --git a/changelog.d/11749.feature b/changelog.d/11749.feature
new file mode 100644
index 000000000000..19dada883bb2
--- /dev/null
+++ b/changelog.d/11749.feature
@@ -0,0 +1 @@
+Add `track_puppeted_user_ips` config flag to track puppeted user IP addresses. This also includes them in monthly active user counts.
diff --git a/docs/sample_config.yaml b/docs/sample_config.yaml
index 907e067e5163..9a501167ee3b 100644
--- a/docs/sample_config.yaml
+++ b/docs/sample_config.yaml
@@ -1503,11 +1503,12 @@ room_prejoin_state:
    #additional_event_types:
    #  - org.example.custom.event.type
 
-# If enabled, puppeted user IP's can also be tracked. By default when
-# puppeting another user, the user who has created the access token
-# for puppeting is tracked. If this is enabled, both requests are tracked.
-# Implicitly enables MAU tracking for puppeted users.
-#track_puppeted_user_ips: false
+# By default when puppeting another user, the user who has created the
+# access token for puppeting is tracked. If this is enabled, both
+# requests are tracked. Implicitly enables MAU tracking for puppeted users.
+# Uncomment to also track puppeted user IP's.
+#
+#track_puppeted_user_ips: true
 
 
 # A list of application service config files to use
diff --git a/synapse/config/api.py b/synapse/config/api.py
index bdbe9f0fa280..f8e52150a25f 100644
--- a/synapse/config/api.py
+++ b/synapse/config/api.py
@@ -61,11 +61,12 @@ def generate_config_section(cls, **kwargs) -> str:
            #additional_event_types:
            #  - org.example.custom.event.type
 
-        # If enabled, puppeted user IP's can also be tracked. By default when
-        # puppeting another user, the user who has created the access token
-        # for puppeting is tracked. If this is enabled, both requests are tracked.
-        # Implicitly enables MAU tracking for puppeted users.
-        #track_puppeted_user_ips: false
+        # By default when puppeting another user, the user who has created the
+        # access token for puppeting is tracked. If this is enabled, both
+        # requests are tracked. Implicitly enables MAU tracking for puppeted users.
+        # Uncomment to also track puppeted user IP's.
+        #
+        #track_puppeted_user_ips: true
         """ % {
             "formatted_default_state_types": formatted_default_state_types
         }