According to the "Return of IRA Contributions" section of the Instructions for Form 8606 document:

"However, you must report the distribution and any related earnings on your 2007 Form 1040, 11a and 11b; or Form 1040NR, lines 16a and 16b. Attach a statement explaining the distribution. You cannot deduct any loss that occurred (see Pub. 590 for an exception if you withdrew the entire amount in all your traditional or Roth IRAs)."

Also, if you did not withdraw the excess contributions by the due date (including extensions) for filing your tax return, on that return you should have paid a 6% excise tax on the excess contributions.