Verified answer

No. By excluding contributions to the IRA from a past income tax return you have, in effect, reduced your basis in the stock to zero. A deduction, such as it is, will come in the form of less income later.

you already got the tax deduction on the money you contributed and there is no recognizable income until to begin withdrawing money and at that point (in a non-Roth IRA), every penny you withdraw is taxable income - you can't ever claim a loss, because you never paid taxes on any gains