Is this considered a wash stock and option transaction?

Question

I bought a stock and made a profit and took a loss on a call and put option for the stock. If I buy the stock and different put and call option strike prices within 30 days, is it considered a wash for my options losses for tax purposes?

Answer 1

Actually, the stock would be considered a successor position to a position that was part of a straddle.

See the section on "Straddles" beginning on page 58 of

http://www.irs.gov/pub/irs-pdf/p550.pdf

paying particular attention to "Coordination of Loss Deferral Rules and Wash Sale Rules" beginning on page 59 and the definition of "sucessor position" on page 60.