No. For any income received as a distribution from your IRA, then it would be income. However, any money still remaining in the IRA is not included in your tax return until and unless you receive distribution.
If you made tax free contributions to a traditional IRA you would not have paid tax on the money placed in the IRA which means there is no loss to be used on your tax return. No earnings would be taxed until a distribution occurred which means there is no tax reporting until a distribution is received by you. When that occurs, and if you had any nondeductible contributions to a traditional IRA, it would reduce taxable income at that time.
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@srichard56
[Edited: 04/06/2025 | 12:34 PM PST]
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