diff --git a/netbox/utilities/api.py b/netbox/utilities/api.py
index 6793c05263..baf7e2f979 100644
--- a/netbox/utilities/api.py
+++ b/netbox/utilities/api.py
@@ -1,8 +1,7 @@
-from django.contrib.contenttypes.fields import GenericForeignKey
 from django.core.exceptions import (
     FieldDoesNotExist, FieldError, MultipleObjectsReturned, ObjectDoesNotExist, ValidationError,
 )
-from django.db.models.fields.related import ManyToOneRel, RelatedField
+from django.db.models import Prefetch
 from django.urls import reverse
 from django.utils.module_loading import import_string
 from django.utils.translation import gettext_lazy as _
@@ -76,7 +75,7 @@ def get_view_name(view):
     return drf_get_view_name(view)
 
 
-def get_prefetches_for_serializer(serializer_class, fields_to_include=None):
+def get_prefetches_for_serializer(serializer_class, fields_to_include=None, source_field=None):
     """
     Compile and return a list of fields which should be prefetched on the queryset for a serializer.
     """
@@ -87,6 +86,14 @@ def get_prefetches_for_serializer(serializer_class, fields_to_include=None):
         fields_to_include = serializer_class.Meta.fields
 
     prefetch_fields = []
+
+    # If this serializer is nested, get annotations and prefetches for the nested serializer
+    if source_field is not None:
+        nested_annotations = get_annotations_for_serializer(serializer_class, fields_to_include=fields_to_include)
+        if nested_annotations:
+            related_prefetch = Prefetch(source_field, queryset=model.objects.all().annotate(**nested_annotations))
+            prefetch_fields.append(related_prefetch)
+
     for field_name in fields_to_include:
         serializer_field = serializer_class._declared_fields.get(field_name)
 
@@ -98,20 +105,24 @@ def get_prefetches_for_serializer(serializer_class, fields_to_include=None):
         # If the serializer field does not map to a discrete model field, skip it.
         try:
             field = model._meta.get_field(model_field_name)
-            if isinstance(field, (RelatedField, ManyToOneRel, GenericForeignKey)):
-                prefetch_fields.append(field.name)
         except FieldDoesNotExist:
             continue
 
+        # Prefetch for tags
+        if field.name == 'tags':
+            prefetch_fields.append('tags')
+
         # If this field is represented by a nested serializer, recurse to resolve prefetches
         # for the related object.
-        if serializer_field:
+        if serializer_field and source_field is None:
             if issubclass(type(serializer_field), Serializer):
                 # Determine which fields to prefetch for the nested object
                 subfields = serializer_field.Meta.brief_fields if serializer_field.nested else None
-                for subfield in get_prefetches_for_serializer(type(serializer_field), subfields):
-                    prefetch_fields.append(f'{field_name}__{subfield}')
-
+                for subfield in get_prefetches_for_serializer(type(serializer_field), subfields, field_name):
+                    if isinstance(subfield, Prefetch):
+                        prefetch_fields.append(subfield)
+                    else:
+                        prefetch_fields.append(f'{field_name}__{subfield}')
     return prefetch_fields