Roth Ira Dışında Tutulduğunda Vergiye En Çok Kaybeden 5 Temettü Hisse Senedi

5 Dividend Stocks That Lose the Most to Taxes When They’re Held Outside of a Roth IRA

Joel South

Mon, August 31, 2026 at 3:00 PM GMT+3 4 min read

Quick Read

AGNC and NLY distribute nearly all income as ordinary dividends, costing a $500,000 taxable account roughly $13,000 annually at 24%.
MFIC and Realty Income also pay ordinary-income distributions, pushing the Roth's 10-year straight-line advantage on this five-stock portfolio to $127,200.
A 37% bracket investor loses $8,000 more per year than a 22% filer on this portfolio, and that gap widens every year outside a Roth.
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At the 24% federal bracket, a $500,000 portfolio built around mortgage REITs, BDCs and net-lease REITs throws off enough ordinary-income distributions to hand the IRS roughly $13,000 every year in a taxable account. Inside a Roth, that number goes to zero.

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The five names below sit at the top of the tax-drag list because almost none of their payouts qualify for the preferential 15% or 20% dividend rate. They flow through as ordinary income taxed at your full marginal rate.

Roth Versus Taxable: $500,000 Delta at 24%

Here is what a $500,000 equal-weighted portfolio ($100,000 in each name) produces at current yields:

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AGNC Investment (NASDAQ:AGNC): agency mortgage REIT paying 12 cents monthly, yielding 13.15%. Agency MBS mREITs distribute almost entirely non-qualified ordinary dividends, the textbook Roth candidate.
Annaly Capital Management (NYSE:NLY): mortgage REIT that raised its quarterly payout to 75 cents from 70 cents, yielding 12.34%. Same ordinary-income tax character as AGNC.
Ares Capital (NASDAQ:ARCC): the largest publicly traded BDC, paying 48 cents quarterly, yielding 9.65%. BDC distributions flow through almost entirely as ordinary interest income at the investor's full marginal rate.
MidCap Financial Investment (NASDAQ:MFIC): BDC paying 31 cents quarterly on a $1.24 forward annualized rate, roughly 12.8% at recent prices. Ordinary income treatment, plus management has flagged the payout as not guaranteed.
Realty Income (NYSE:O): net-lease REIT paying 27 cents monthly on a $3.252 annualized rate, yielding 5.22%. Section 199A helps at the margin, but distributions remain largely ordinary.

Blended portfolio yield lands near 10.6%, producing roughly $53,000 in gross annual income. In a taxable account at 24%, that becomes about $40,280 after tax. Inside a Roth, the same portfolio delivers the full $53,000. Annual Roth advantage: about $12,720. Straight-line 10-year delta with no reinvestment: about $127,200.

Bracket Multiplier: 22% to 37%

Same $53,000 gross portfolio income, different brackets:

A 37% bracket holder pays roughly $8,000 more per year in tax on this exact portfolio than a 22% bracket holder. That gap widens every year the position stays outside a Roth.

Compounding Cost Most Readers Miss

The $12,720 annual Roth advantage at 24% compounds year after year. Inside a Roth, that dollar stack reinvests tax-free every year the position is held. Straight-line, without reinvestment, the 10-year delta on this portfolio is roughly $127,200 and the 20-year delta is roughly $254,400. Reinvested inside the Roth at even a conservative 5% return assumption on the delta itself, both figures push materially higher, and every dollar of that growth stays tax-free on withdrawal. That is the permanent cost of holding these five specific names in the wrong account, and it is exactly why the low-tax window between your last paycheck and your first RMD matters so much (we sized up that window in a free Roth conversion guide here).

What to Do Now

1. If you hold AGNC, NLY, ARCC, MFIC, or O in a taxable account, run the tax cost at your bracket against the current yield before your next quarterly estimated payment. The numbers above are the template.

2. Model a phased Roth conversion starting with the highest-yielding, most ordinary-income-heavy names first. In this group that means the two mortgage REITs and the two BDCs, ahead of Realty Income.

3. For new capital going into any BDC or mortgage REIT position, route the contribution to the Roth side of the account structure by default. The bracket multiplier only gets more expensive as ordinary income rises.