diff --git a/src/Tasks/Microsoft.NET.Build.Tasks/GenerateDepsFile.cs b/src/Tasks/Microsoft.NET.Build.Tasks/GenerateDepsFile.cs
index 549376a1f9c5..2f68ba2095df 100644
--- a/src/Tasks/Microsoft.NET.Build.Tasks/GenerateDepsFile.cs
+++ b/src/Tasks/Microsoft.NET.Build.Tasks/GenerateDepsFile.cs
@@ -64,7 +64,7 @@ public class GenerateDepsFile : TaskBase
 
         public ITaskItem CompilerOptions { get; set; }
 
-        public ITaskItem[] ExcludeFromPublishPackageReferences { get; set; } = Array.Empty<ITaskItem>();
+        public ITaskItem[] AllPackageReferences { get; set; } = Array.Empty<ITaskItem>();
 
         public ITaskItem[] RuntimeStorePackages { get; set; }
 
@@ -228,13 +228,21 @@ bool ShouldIncludeRuntimeAsset(ITaskItem item)
                     targetFramework: TargetFramework);
             }
 
+            Func<ITaskItem, bool> ShouldNotBeInDepsFile = taskItem =>
+            {
+                var excludedAssets = taskItem.GetMetadata("ExcludeAssets");
+                var includedAssets = taskItem.GetMetadata("IncludeAssets");
+                return excludedAssets?.Contains("runtime") == true || excludedAssets?.Contains("all") == true ||
+                    (!string.IsNullOrEmpty(includedAssets) && !includedAssets.Contains("runtime") && !includedAssets.Contains("all"));
+            };
+
             builder = builder
                 .WithMainProjectInDepsFile(IncludeMainProject)
                 .WithReferenceAssemblies(referenceAssemblyInfos)
                 .WithDirectReferences(directReferences)
                 .WithDependencyReferences(dependencyReferences)
                 .WithReferenceProjectInfos(referenceProjects)
-                .WithExcludeFromPublishAssets(PackageReferenceConverter.GetPackageIds(ExcludeFromPublishPackageReferences))
+                .WithExcludeFromPublishAssets(PackageReferenceConverter.GetPackageIds(AllPackageReferences?.Where(ShouldNotBeInDepsFile)))
                 .WithRuntimePackAssets(runtimePackAssets)
                 .WithCompilationOptions(compilationOptions)
                 .WithReferenceAssembliesPath(FrameworkReferenceResolver.GetDefaultReferenceAssembliesPath())
diff --git a/src/Tasks/Microsoft.NET.Build.Tasks/PackageReferenceConverter.cs b/src/Tasks/Microsoft.NET.Build.Tasks/PackageReferenceConverter.cs
index d8049c937ac5..d74971ffa220 100644
--- a/src/Tasks/Microsoft.NET.Build.Tasks/PackageReferenceConverter.cs
+++ b/src/Tasks/Microsoft.NET.Build.Tasks/PackageReferenceConverter.cs
@@ -7,7 +7,7 @@ namespace Microsoft.NET.Build.Tasks
 {
     internal static class PackageReferenceConverter
     {
-        public static IEnumerable<string> GetPackageIds(ITaskItem[] packageReferences)
+        public static IEnumerable<string> GetPackageIds(IEnumerable<ITaskItem> packageReferences)
         {
             if (packageReferences == null)
             {
diff --git a/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Publish.targets b/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Publish.targets
index eaf2b5011e62..9dacfe6e1baa 100644
--- a/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Publish.targets
+++ b/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Publish.targets
@@ -1236,7 +1236,7 @@ Copyright (c) .NET Foundation. All rights reserved.
                       PlatformLibraryName="$(MicrosoftNETPlatformLibrary)"
                       RuntimeFrameworks="@(RuntimeFramework)"
                       CompilerOptions="@(DependencyFileCompilerOptions)"
-                      ExcludeFromPublishPackageReferences="@(_ExcludeFromPublishPackageReference)"
+                      AllPackageReferences="@(PackageReference)"
                       RuntimeStorePackages="@(RuntimeStorePackages)"
                       CompileReferences="@(ResolvedCompileFileDefinitions)"
                       ResolvedNuGetFiles="@(_ResolvedNuGetFilesForPublish)"
diff --git a/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Sdk.targets b/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Sdk.targets
index 5d4c747ec897..abf2c0922794 100644
--- a/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Sdk.targets
+++ b/src/Tasks/Microsoft.NET.Build.Tasks/targets/Microsoft.NET.Sdk.targets
@@ -338,7 +338,7 @@ Copyright (c) .NET Foundation. All rights reserved.
                       PlatformLibraryName="$(MicrosoftNETPlatformLibrary)"
                       RuntimeFrameworks="@(RuntimeFramework)"
                       CompilerOptions="@(DependencyFileCompilerOptions)"
-                      ExcludeFromPublishPackageReferences="@(_ExcludeFromPublishPackageReference)"
+                      AllPackageReferences="@(PackageReference)"
                       CompileReferences="@(ResolvedCompileFileDefinitions)"
                       ResolvedNuGetFiles="@(NativeCopyLocalItems);@(ResourceCopyLocalItems);@(RuntimeCopyLocalItems)"
                       UserRuntimeAssemblies="@(UserRuntimeAssembly)"
diff --git a/test/Microsoft.NET.Build.Tests/GivenThatWeWantToBuildADesktopLibrary.cs b/test/Microsoft.NET.Build.Tests/GivenThatWeWantToBuildADesktopLibrary.cs
index 557741e430d5..737556cff6c9 100644
--- a/test/Microsoft.NET.Build.Tests/GivenThatWeWantToBuildADesktopLibrary.cs
+++ b/test/Microsoft.NET.Build.Tests/GivenThatWeWantToBuildADesktopLibrary.cs
@@ -246,7 +246,8 @@ public void PackageReferences_with_private_assets_do_not_appear_in_deps_file(str
                 }
                 else
                 {
-                    dependencyContext.CompileLibraries.Any(l => l.Name.Equals("Microsoft.AspNetCore.App")).Should().BeFalse();
+                    dependencyContext.CompileLibraries.Any(l => l.Name.Equals("Microsoft.AspNetCore.App")).Should().BeTrue();
+                    dependencyContext.CompileLibraries.Any(l => l.Name.Equals("Microsoft.AspNetCore")).Should().BeFalse();
                 }
             }
         }
diff --git a/test/TestAssets/TestProjects/RazorSimpleMvc22/SimpleMvc22.csproj b/test/TestAssets/TestProjects/RazorSimpleMvc22/SimpleMvc22.csproj
index 9d0b31e16588..94efaae2b311 100644
--- a/test/TestAssets/TestProjects/RazorSimpleMvc22/SimpleMvc22.csproj
+++ b/test/TestAssets/TestProjects/RazorSimpleMvc22/SimpleMvc22.csproj
@@ -18,6 +18,7 @@
   </PropertyGroup>
 
   <ItemGroup>
+    <PackageReference Include="Microsoft.AspNetCore" Version="2.2.0" ExcludeAssets="runtime"/>
     <PackageReference Include="Microsoft.AspNetCore.App" Version="2.2.6" PrivateAssets="All" />
     <PackageReference Include="Microsoft.AspNetCore.Razor.Design" Version="2.2.0" PrivateAssets="All" />
   </ItemGroup>