diff --git a/src/cmd/go/internal/modload/build.go b/src/cmd/go/internal/modload/build.go
index a101681..b6f955d 100644
--- a/src/cmd/go/internal/modload/build.go
+++ b/src/cmd/go/internal/modload/build.go
@@ -126,8 +126,8 @@
 		Version:  m.Version,
 		Indirect: fromBuildList && loaded != nil && !loaded.direct[m.Path],
 	}
-	if loaded != nil {
-		info.GoVersion = loaded.goVersion[m.Path]
+	if v, ok := rawGoVersion.Load(m); ok {
+		info.GoVersion = v.(string)
 	}
 
 	// completeFromModCache fills in the extra fields in m using the module cache.
@@ -155,6 +155,8 @@
 	}
 
 	if !fromBuildList {
+		// If this was an explicitly-versioned argument to 'go mod download' or
+		// 'go list -m', report the actual requested version, not its replacement.
 		completeFromModCache(info) // Will set m.Error in vendor mode.
 		return info
 	}
@@ -178,9 +180,12 @@
 	// worth the cost, and we're going to overwrite the GoMod and Dir from the
 	// replacement anyway. See https://golang.org/issue/27859.
 	info.Replace = &modinfo.ModulePublic{
-		Path:      r.Path,
-		Version:   r.Version,
-		GoVersion: info.GoVersion,
+		Path:    r.Path,
+		Version: r.Version,
+	}
+	if goV, ok := rawGoVersion.Load(r); ok {
+		info.Replace.GoVersion = goV.(string)
+		info.GoVersion = info.Replace.GoVersion
 	}
 	if r.Version == "" {
 		if filepath.IsAbs(r.Path) {
diff --git a/src/cmd/go/internal/modload/load.go b/src/cmd/go/internal/modload/load.go
index 686d491..2a37f1d 100644
--- a/src/cmd/go/internal/modload/load.go
+++ b/src/cmd/go/internal/modload/load.go
@@ -627,8 +627,7 @@
 	pkgCache *par.Cache // map from string to *loadPkg
 
 	// computed at end of iterations
-	direct    map[string]bool   // imported directly by main module
-	goVersion map[string]string // go version recorded in each module
+	direct map[string]bool // imported directly by main module
 }
 
 // LoadTests controls whether the loaders load tests of the root packages.
@@ -754,13 +753,6 @@
 		}
 	}
 
-	// Add Go versions, computed during walk.
-	ld.goVersion = make(map[string]string)
-	for _, m := range buildList {
-		v, _ := reqs.(*mvsReqs).versions.Load(m)
-		ld.goVersion[m.Path], _ = v.(string)
-	}
-
 	// Mix in direct markings (really, lack of indirect markings)
 	// from go.mod, unless we scanned the whole module
 	// and can therefore be sure we know better than go.mod.
diff --git a/src/cmd/go/internal/modload/modfile.go b/src/cmd/go/internal/modload/modfile.go
index 9a166ca..9ff00e9b 100644
--- a/src/cmd/go/internal/modload/modfile.go
+++ b/src/cmd/go/internal/modload/modfile.go
@@ -7,6 +7,7 @@
 import (
 	"cmd/go/internal/base"
 	"cmd/go/internal/cfg"
+	"sync"
 
 	"golang.org/x/mod/modfile"
 	"golang.org/x/mod/module"
@@ -164,3 +165,9 @@
 
 	return false
 }
+
+// rawGoVersion records the Go version parsed from each module's go.mod file.
+//
+// If a module is replaced, the version of the replacement is keyed by the
+// replacement module.Version, not the version being replaced.
+var rawGoVersion sync.Map // map[module.Version]string
diff --git a/src/cmd/go/internal/modload/mvs.go b/src/cmd/go/internal/modload/mvs.go
index 39d0d69..873f589 100644
--- a/src/cmd/go/internal/modload/mvs.go
+++ b/src/cmd/go/internal/modload/mvs.go
@@ -11,7 +11,6 @@
 	"os"
 	"path/filepath"
 	"sort"
-	"sync"
 
 	"cmd/go/internal/base"
 	"cmd/go/internal/cfg"
@@ -30,7 +29,6 @@
 type mvsReqs struct {
 	buildList []module.Version
 	cache     par.Cache
-	versions  sync.Map
 }
 
 // Reqs returns the current module requirement graph.
@@ -83,7 +81,7 @@
 func (r *mvsReqs) required(mod module.Version) ([]module.Version, error) {
 	if mod == Target {
 		if modFile != nil && modFile.Go != nil {
-			r.versions.LoadOrStore(mod, modFile.Go.Version)
+			rawGoVersion.LoadOrStore(mod, modFile.Go.Version)
 		}
 		return append([]module.Version(nil), r.buildList[1:]...), nil
 	}
@@ -113,7 +111,7 @@
 				return nil, fmt.Errorf("parsing %s: %v", base.ShortPath(gomod), err)
 			}
 			if f.Go != nil {
-				r.versions.LoadOrStore(mod, f.Go.Version)
+				rawGoVersion.LoadOrStore(repl, f.Go.Version)
 			}
 			return r.modFileToList(f), nil
 		}
@@ -147,7 +145,7 @@
 	        but was required as: %s`, mpath, origPath))
 	}
 	if f.Go != nil {
-		r.versions.LoadOrStore(mod, f.Go.Version)
+		rawGoVersion.LoadOrStore(mod, f.Go.Version)
 	}
 
 	return r.modFileToList(f), nil