A bolt for a bolt-action firearm in one embodiment is movably disposed in a receiver between forward closed breech and rearward open breech axial positions. The bolt includes an operating handle and plurality of bolt lugs arranged to selectively engage locking lugs in the firearm. The bolt is rotatable between locked and unlocked breech positions when in the closed breech position. The bolt body has a dimensionally reduced middle section with unique configuration adapted to allow the bolt to rotate when closed without interference from the magazine feed lips. Using this design, the bolt may include three bolt lugs in one embodiment for secure lockup and minimal angular rotation between the locked and unlocked breech positions. The bolt is usable with both single and double stack box type magazines with one of the bolt lugs operating to reliably strip cartridges from either type magazine.