tax consequence of rolling

Is the sell part of roll have a normal tax consequence? Where do i research this more? Thanks!

 

You report all transactions that you close unless it is a 1256 contract then you are MTM at year end.

 

You'll certainly be taxed on a gain, but losses might be subject to the wash sale rules. IRS Publication 550 is fairly comprehensive, and tradelog has some good explanations: http://www.tradelogsoftware.com/resources/wash-sales/#wash-sale-stocks-and-options