### Question
What does replacement year mean?


### Answer
**Replacement year** has the following meaning in *26 U.S.C. § 473*:

> any taxable year in the replacement period

#### Citation:
  - *26 U.S.C. § 473*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart D-Inventories**

