Change Formula Field Current Date

Can someone show me how to change the current date and subtract by 1 year. Ex: Current Date - 1 I would like to take the value of the current date 20090318 and change its value to 20080318
Thabks for your help.
Jim Dyer

Hi
Create a formula field and put the below formula:
Year(datefield) - 1;
Hope this helps!!
Regards
Sourashree

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