No. The CARES Act updates applies only to NOL (net operating losses), not passive losses. Passive losses continue the same tax treatment. If you have passive losses, they may be used to offset passive income. Passive loss limitations apply.
The CARES Act permits NOLs from the 2018, 2019, and 2020 tax years to be carried back to the previous five tax years (beginning with the earliest year first) and suspends the 80% of taxable income limitation through the 2020 tax year. The NOL carryback can result in an immediate refund of taxes paid in prior years.
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