Dealing with paper losses

[Ezra Nugroho]

With my rentals, I generate paper losses from operating expenses, repairs and depreciation. However, because of having 2 incomes in the household, my wife and I got phased out, and I cannot claim those losses against my w2 income. Now it seems that those losses are allowed to deduct gains from other passive activities. But what are the passive activities that are eligible to deduct the paper losses from?

I once thought that capital gains from stock investments can be negated from RE losses, but a friend of mine said that it's not eligible. 

So what other passive activities are actually eligible to be counted against RE paper losses ? Income from other rentals?

Other than being a real estate professional and spending 750 hours on it, what can someone do to realize the paper losses? Or just don't even bother?