diff --git a/include/boost/variant/variant.hpp b/include/boost/variant/variant.hpp
index 33bdcb79..3c29892c 100644
--- a/include/boost/variant/variant.hpp
+++ b/include/boost/variant/variant.hpp
@@ -1033,13 +1033,15 @@ class invoke_visitor
     template <typename T>
     result_type internal_visit(boost::detail::reference_content<T>& operand, long)
     {
-        return internal_visit( operand.get(), 1L );
+        invoke_visitor<Visitor, false> invoker(visitor_);
+        return invoker.internal_visit( operand.get(), 1L );
     }
 
     template <typename T>
     result_type internal_visit(const boost::detail::reference_content<T>& operand, long)
     {
-        return internal_visit( operand.get(), 1L );
+        invoke_visitor<Visitor, false> invoker(visitor_);
+        return invoker.internal_visit( operand.get(), 1L );
     }
 
     template <typename T>
diff --git a/test/Jamfile.v2 b/test/Jamfile.v2
index 37fa5a08..8fac81e9 100644
--- a/test/Jamfile.v2
+++ b/test/Jamfile.v2
@@ -36,6 +36,7 @@ test-suite variant
     [ run test9.cpp : : : <library>/boost/fusion//boost_fusion : variant_test9 ]
     [ run recursive_variant_test.cpp ]
     [ run variant_reference_test.cpp ]
+    [ run variant_reference_visit_test.cpp ]
     [ run variant_comparison_test.cpp ]
     [ run variant_visit_internal_linkage.cpp : : : "<cxxstd>$(below_cpp14)"\:<build>no ]
     [ run variant_visit_test.cpp ]
diff --git a/test/variant_reference_visit_test.cpp b/test/variant_reference_visit_test.cpp
new file mode 100644
index 00000000..e61ebcb9
--- /dev/null
+++ b/test/variant_reference_visit_test.cpp
@@ -0,0 +1,185 @@
+// Copyright 2026 Treston Cuzzort
+// Distributed under the Boost Software License, Version 1.0.
+// (See accompanying file LICENSE_1_0.txt or https://www.boost.org/LICENSE_1_0.txt)
+
+#include <boost/variant.hpp>
+#include <boost/variant/multivisitors.hpp>
+#include <boost/core/lightweight_test.hpp>
+#include <type_traits>
+#include <utility>
+
+template<class T>
+int category(T&&)
+{
+    return !std::is_lvalue_reference<T&&>::value
+        + 2 * std::is_const<typename std::remove_reference<T>::type>::value;
+}
+
+struct category_visitor : boost::static_visitor<int>
+{
+    template<class T> int operator()(T&& v) const
+    { return category(std::forward<T>(v)); }
+    template<class T, class U> int operator()(T&& a, U&& b) const
+    { return category(std::forward<T>(a)) + 4 * category(std::forward<U>(b)); }
+    template<class T, class U, class V> int operator()(T&& a, U&& b, V&& c) const
+    { return category(std::forward<T>(a)) + 4 * category(std::forward<U>(b))
+           + 16 * category(std::forward<V>(c)); }
+};
+
+#ifdef BOOST_VARIANT_HAS_DECLTYPE_APPLY_VISITOR_RETURN_TYPE
+struct deduced_visitor
+{
+    template<class T> int operator()(T&& v) const
+    { return category(std::forward<T>(v)); }
+    template<class T, class U> int operator()(T&& a, U&& b) const
+    { return category(std::forward<T>(a)) + 4 * category(std::forward<U>(b)); }
+};
+
+struct deduced_reference
+{
+    template<class T> T& operator()(T& v) const { return v; }
+};
+#endif
+
+template<class Variant>
+void check_categories(Variant& v, int lvalue, int rvalue)
+{
+    category_visitor visitor;
+    BOOST_TEST_EQ(v.apply_visitor(visitor), lvalue);
+    BOOST_TEST_EQ(std::move(v).apply_visitor(visitor), rvalue);
+    BOOST_TEST_EQ(boost::apply_visitor(visitor, v), lvalue);
+    BOOST_TEST_EQ(boost::apply_visitor(visitor, std::move(v)), rvalue);
+#ifdef BOOST_VARIANT_HAS_DECLTYPE_APPLY_VISITOR_RETURN_TYPE
+    deduced_visitor deduced;
+    BOOST_TEST_EQ(boost::apply_visitor(deduced, v), lvalue);
+    BOOST_TEST_EQ(boost::apply_visitor(deduced, std::move(v)), rvalue);
+#endif
+}
+
+struct changer : boost::static_visitor<void>
+{
+    changer() {}
+    changer(const changer&) = delete;
+    changer& operator=(const changer&) = delete;
+    void operator()(int& i) { i += 10; }
+    void operator()(double& d) { d += 20; }
+};
+
+struct tracked
+{
+    static int copies, moves;
+    int value;
+    explicit tracked(int v) : value(v) {}
+    tracked(const tracked& v) : value(v.value) { ++copies; }
+    tracked(tracked&& v) : value(v.value) { ++moves; v.value = -1; }
+};
+int tracked::copies = 0;
+int tracked::moves = 0;
+
+struct consume : boost::static_visitor<int>
+{
+    int operator()(tracked value) const { return value.value; }
+};
+
+struct address : boost::static_visitor<tracked*>
+{
+    tracked* operator()(tracked& value) const { return &value; }
+};
+
+void test_categories()
+{
+    int i = 1;
+    const int ci = 2;
+    boost::variant<int> owned(i);
+    const boost::variant<int> const_owned(i);
+    boost::variant<int&> borrowed(i);
+    const boost::variant<int&> const_borrowed(i);
+    boost::variant<const int&> borrowed_const(ci);
+    const boost::variant<const int&> const_borrowed_const(ci);
+    check_categories(owned, 0, 1);
+    check_categories(const_owned, 2, 3);
+    check_categories(borrowed, 0, 0);
+    check_categories(const_borrowed, 0, 0);
+    check_categories(borrowed_const, 2, 2);
+    check_categories(const_borrowed_const, 2, 2);
+
+    category_visitor visitor;
+    BOOST_TEST_EQ(boost::apply_visitor(visitor, std::move(borrowed), std::move(owned)), 4);
+    BOOST_TEST_EQ(boost::apply_visitor(visitor, std::move(owned), std::move(borrowed)), 1);
+    BOOST_TEST_EQ(boost::apply_visitor(visitor, std::move(const_borrowed), std::move(borrowed_const)), 8);
+    BOOST_TEST_EQ(boost::apply_visitor(visitor, std::move(borrowed), std::move(owned), std::move(borrowed_const)), 36);
+#ifdef BOOST_VARIANT_HAS_DECLTYPE_APPLY_VISITOR_RETURN_TYPE
+    deduced_visitor deduced;
+    BOOST_TEST_EQ(boost::apply_visitor(deduced, std::move(borrowed), std::move(owned)), 4);
+    BOOST_TEST_EQ(boost::apply_visitor(deduced, std::move(owned), std::move(borrowed)), 1);
+    deduced_reference reference;
+    static_assert(std::is_same<decltype(boost::apply_visitor(reference, std::move(borrowed))), int&>::value,
+                  "A borrowed alternative keeps its reference result");
+    BOOST_TEST(&boost::apply_visitor(reference, std::move(borrowed)) == &i);
+    BOOST_TEST(&boost::apply_visitor(reference, std::move(const_borrowed)) == &i);
+#endif
+}
+
+void test_mutation_and_moves()
+{
+    int i = 0;
+    double d = 0;
+    typedef boost::variant<int&, double&> references;
+    references v(i);
+    const references cv(i);
+    changer change;
+    boost::apply_visitor(change, v);
+    boost::apply_visitor(change, references(d));
+    std::move(cv).apply_visitor(change);
+    BOOST_TEST_EQ(i, 20);
+    BOOST_TEST_EQ(d, 20);
+
+    tracked external(42);
+    boost::variant<tracked&> borrowed(external);
+    const boost::variant<tracked&> const_borrowed(external);
+    consume sink;
+    tracked::copies = tracked::moves = 0;
+    BOOST_TEST_EQ(boost::apply_visitor(sink, std::move(borrowed)), 42);
+    BOOST_TEST_EQ(external.value, 42);
+    BOOST_TEST_EQ(tracked::copies, 1);
+    BOOST_TEST_EQ(tracked::moves, 0);
+    tracked::copies = tracked::moves = 0;
+    BOOST_TEST_EQ(boost::apply_visitor(sink, std::move(const_borrowed)), 42);
+    BOOST_TEST_EQ(external.value, 42);
+    BOOST_TEST_EQ(tracked::copies, 1);
+    BOOST_TEST_EQ(tracked::moves, 0);
+
+    boost::variant<tracked> owned(tracked(31));
+    tracked::copies = tracked::moves = 0;
+    BOOST_TEST_EQ(boost::apply_visitor(sink, std::move(owned)), 31);
+    BOOST_TEST_EQ(boost::get<tracked>(owned).value, -1);
+    BOOST_TEST_EQ(tracked::copies, 0);
+    BOOST_TEST_EQ(tracked::moves, 1);
+}
+
+void test_recursive_references()
+{
+    boost::recursive_wrapper<tracked> wrapped(tracked(7));
+    typedef boost::variant<boost::recursive_wrapper<tracked>&> references;
+    references v(wrapped);
+    const references cv(wrapped);
+    address visitor;
+    BOOST_TEST(boost::apply_visitor(visitor, v) == &wrapped.get());
+    BOOST_TEST(boost::apply_visitor(visitor, std::move(v)) == &wrapped.get());
+    BOOST_TEST(boost::apply_visitor(visitor, cv) == &wrapped.get());
+    BOOST_TEST(boost::apply_visitor(visitor, std::move(cv)) == &wrapped.get());
+    check_categories(v, 0, 0);
+    check_categories(cv, 0, 0);
+    boost::variant<const boost::recursive_wrapper<tracked>&> const_reference(wrapped);
+    check_categories(const_reference, 2, 2);
+    boost::variant<boost::recursive_wrapper<tracked> > owned(wrapped.get());
+    check_categories(owned, 0, 1);
+}
+
+int main()
+{
+    test_categories();
+    test_mutation_and_moves();
+    test_recursive_references();
+    return boost::report_errors();
+}