If you're AGI is over a threshold (not sure, but think $160K) then once you're rental losses get your rental income to zero, that's it. Any additional loss is just carried over to the next year. The carry over is shown on IRS Form 8852. With you're AGI in excess of $300K, you're over the threshold.
If you were under the threshold (and a few other requirements I don't recall at the moment) then up to a maximum of $25K would be allowed against other ordinary income.
