Preheat the oven to 350°F, and grease a 9x5-inch loaf pan. Set aside.

In a medium bowl, whisk the flour, sugar, baking powder, cinnamon, salt and nutmeg. Set aside.

In a separate large bowl, whisk the eggs, eggnog, butter, vanilla and rum extract together until smooth.

Stir the flour mixture into the wet ingredients just until combined then pour it into the prepared loaf pan. Bake for 45-50 minutes or until a toothpick comes out clean when inserted into the center of the loaf.

Stir the powdered sugar, milk, and rum extract until smooth then set aside until it’s ready to use.

Let the loaf cool completely, about an 1 hour before icing, slicing and serving.

See post for storage options.