diff --git a/src/Microsoft.OpenApi/Models/OpenApiReference.cs b/src/Microsoft.OpenApi/Models/OpenApiReference.cs
index 9c65bf9e2..0802e2ca2 100644
--- a/src/Microsoft.OpenApi/Models/OpenApiReference.cs
+++ b/src/Microsoft.OpenApi/Models/OpenApiReference.cs
@@ -158,11 +158,12 @@ public OpenApiReference(OpenApiReference reference)
         /// </summary>
         public void SerializeAsV31(IOpenApiWriter writer)
         {
-            // summary and description are in 3.1 but not in 3.0
-            writer.WriteProperty(OpenApiConstants.Summary, Summary);
-            writer.WriteProperty(OpenApiConstants.Description, Description);
-
-            SerializeInternal(writer);
+            SerializeInternal(writer, x =>
+            {
+                // summary and description are in 3.1 but not in 3.0
+                writer.WriteProperty(OpenApiConstants.Summary, Summary);
+                writer.WriteProperty(OpenApiConstants.Description, Description);
+            });
         }
 
         /// <summary>
@@ -176,7 +177,7 @@ public void SerializeAsV3(IOpenApiWriter writer)
         /// <summary>
         /// Serialize <see cref="OpenApiReference"/>
         /// </summary>
-        private void SerializeInternal(IOpenApiWriter writer)
+        private void SerializeInternal(IOpenApiWriter writer, Action<IOpenApiWriter> callback = null)
         {
             Utils.CheckArgumentNull(writer);
 
@@ -188,6 +189,10 @@ private void SerializeInternal(IOpenApiWriter writer)
             }
 
             writer.WriteStartObject();
+            if (callback is not null)
+            {
+                callback(writer);
+            }
 
             // $ref
             writer.WriteProperty(OpenApiConstants.DollarRef, ReferenceV3);
diff --git a/src/Microsoft.OpenApi/Models/References/BaseOpenApiReferenceHolder.cs b/src/Microsoft.OpenApi/Models/References/BaseOpenApiReferenceHolder.cs
index 6b1f02575..d7205f37c 100644
--- a/src/Microsoft.OpenApi/Models/References/BaseOpenApiReferenceHolder.cs
+++ b/src/Microsoft.OpenApi/Models/References/BaseOpenApiReferenceHolder.cs
@@ -80,7 +80,7 @@ public void SerializeAsV3(IOpenApiWriter writer)
         }
         else
         {
-            SerializeInternal(writer, (writer, element) => CopyReferenceAsTargetElementWithOverrides(element).SerializeAsV3(writer));
+            SerializeInternal(writer, (writer, element) => element.SerializeAsV3(writer));
         }
     }
 
@@ -106,7 +106,7 @@ public virtual void SerializeAsV2(IOpenApiWriter writer)
         }
         else
         {
-            SerializeInternal(writer, (writer, element) => CopyReferenceAsTargetElementWithOverrides(element).SerializeAsV2(writer));
+            SerializeInternal(writer, (writer, element) => element.SerializeAsV2(writer));
         }
     }
 
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False_inlineLocalReferences=False.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False_inlineLocalReferences=False.verified.txt
new file mode 100644
index 000000000..7d881453b
--- /dev/null
+++ b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False_inlineLocalReferences=False.verified.txt
@@ -0,0 +1,4 @@
+{
+  "description": "User request body",
+  "$ref": "#/components/requestBodies/UserRequest"
+}
\ No newline at end of file
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False_inlineLocalReferences=True.verified.txt
similarity index 100%
rename from test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False.verified.txt
rename to test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=False_inlineLocalReferences=True.verified.txt
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True_inlineLocalReferences=False.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True_inlineLocalReferences=False.verified.txt
new file mode 100644
index 000000000..ac2c2d9ac
--- /dev/null
+++ b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True_inlineLocalReferences=False.verified.txt
@@ -0,0 +1 @@
+{"description":"User request body","$ref":"#/components/requestBodies/UserRequest"}
\ No newline at end of file
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True_inlineLocalReferences=True.verified.txt
similarity index 100%
rename from test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True.verified.txt
rename to test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV31JsonWorks_produceTerseOutput=True_inlineLocalReferences=True.verified.txt
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False_inlineLocalReferences=False.verified.txt
similarity index 100%
rename from test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False.verified.txt
rename to test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False_inlineLocalReferences=False.verified.txt
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False_inlineLocalReferences=True.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False_inlineLocalReferences=True.verified.txt
new file mode 100644
index 000000000..c4d9bef00
--- /dev/null
+++ b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=False_inlineLocalReferences=True.verified.txt
@@ -0,0 +1,18 @@
+{
+  "description": "User creation request body",
+  "content": {
+    "application/json": {
+      "schema": {
+        "type": "object",
+        "properties": {
+          "name": {
+            "type": "string"
+          },
+          "email": {
+            "type": "string"
+          }
+        }
+      }
+    }
+  }
+}
\ No newline at end of file
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True_inlineLocalReferences=False.verified.txt
similarity index 100%
rename from test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True.verified.txt
rename to test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True_inlineLocalReferences=False.verified.txt
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True_inlineLocalReferences=True.verified.txt b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True_inlineLocalReferences=True.verified.txt
new file mode 100644
index 000000000..3d91acf86
--- /dev/null
+++ b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.SerializeRequestBodyReferenceAsV3JsonWorks_produceTerseOutput=True_inlineLocalReferences=True.verified.txt
@@ -0,0 +1 @@
+{"description":"User creation request body","content":{"application/json":{"schema":{"type":"object","properties":{"name":{"type":"string"},"email":{"type":"string"}}}}}}
\ No newline at end of file
diff --git a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.cs b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.cs
index 9bcf15a03..4f8e24f6e 100644
--- a/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.cs
+++ b/test/Microsoft.OpenApi.Tests/Models/References/OpenApiRequestBodyReferenceTests.cs
@@ -122,37 +122,41 @@ public void RequestBodyReferenceResolutionWorks()
         }
 
         [Theory]
-        [InlineData(true)]
-        [InlineData(false)]
-        public async Task SerializeRequestBodyReferenceAsV3JsonWorks(bool produceTerseOutput)
+        [InlineData(true, true)]
+        [InlineData(false, true)]
+        [InlineData(true, false)]
+        [InlineData(false, false)]
+        public async Task SerializeRequestBodyReferenceAsV3JsonWorks(bool produceTerseOutput, bool inlineLocalReferences)
         {
             // Arrange
             var outputStringWriter = new StringWriter(CultureInfo.InvariantCulture);
-            var writer = new OpenApiJsonWriter(outputStringWriter, new OpenApiJsonWriterSettings { Terse = produceTerseOutput});
+            var writer = new OpenApiJsonWriter(outputStringWriter, new OpenApiJsonWriterSettings { Terse = produceTerseOutput, InlineLocalReferences = inlineLocalReferences });
 
             // Act
             _localRequestBodyReference.SerializeAsV3(writer);
             await writer.FlushAsync();
 
             // Assert            
-            await Verifier.Verify(outputStringWriter).UseParameters(produceTerseOutput);
+            await Verifier.Verify(outputStringWriter).UseParameters(produceTerseOutput, inlineLocalReferences);
         }
 
         [Theory]
-        [InlineData(true)]
-        [InlineData(false)]
-        public async Task SerializeRequestBodyReferenceAsV31JsonWorks(bool produceTerseOutput)
+        [InlineData(true, true)]
+        [InlineData(false, true)]
+        [InlineData(true, false)]
+        [InlineData(false, false)]
+        public async Task SerializeRequestBodyReferenceAsV31JsonWorks(bool produceTerseOutput, bool inlineLocalReferences)
         {
             // Arrange
             var outputStringWriter = new StringWriter(CultureInfo.InvariantCulture);
-            var writer = new OpenApiJsonWriter(outputStringWriter, new OpenApiJsonWriterSettings { Terse = produceTerseOutput, InlineLocalReferences = true });
+            var writer = new OpenApiJsonWriter(outputStringWriter, new OpenApiJsonWriterSettings { Terse = produceTerseOutput, InlineLocalReferences = inlineLocalReferences });
 
             // Act
             _localRequestBodyReference.SerializeAsV31(writer);
             await writer.FlushAsync();
 
             // Assert
-            await Verifier.Verify(outputStringWriter).UseParameters(produceTerseOutput);
+            await Verifier.Verify(outputStringWriter).UseParameters(produceTerseOutput, inlineLocalReferences);
         }
     }
 }