If your rental loss deduction is zero, the rental is a passive activity and the losses are passive losses carried forward until they can be used to offset passive income.
There is an exception that allows you to deduct up to $25,000 passive loss for rental real estate, but this exception does phase out as your modified Adjusted Gross Income (AGI) increases. It starts to phase out at $100,000 modified AGI and completely ends with modified AGI above $150,000. There are different limits and rules if Married Filing Separate.
To learn more, see the following TurboTax article: Real Estate Tax and Rental Property
The discussion about passive activity losses is at the end of the article.
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