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"Leftover" IRA Basis

This is something I probably should have noticed last year, but
didn't.  Since ~2007, I have made non-deductible IRA contributions.
In 2010, when the income limit for converting to Roth was lifted, I
converted my traditional IRA to Roth.  I just finished up my 2011
taxes and I noticed something strange.  On form 8606 (line 14), I have
a non-zero basis for my traditional IRA, even though I don't have a
traditional IRA any more.

My best guess is this means I had a loss when I converted my
traditional IRA.  In fact, TurboTax put that loss on my schedule A,
but it does not exceed 2% of my AGI, so I didn't get a deduction.

Is there anything I can do with this?  Any benefit I can realize?
I've already made a non-deductible IRA contribution for 2012 (and
immediate converted it to Roth).  But if there's something else I can
do with this "leftover" basis, either this year or next, please let me
know.

Thanks in advance,
Bill