Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The following table displays the components of our benefit for federal income taxes for the years ended December 31, 2012, 2011 and 2010.



	For the Year Ended December 31,
	2012			2011			2010
	(Dollars in millions)
Current income tax benefit		$	—		$	90		$	82
Deferred income tax benefit ⁽¹⁾		—			—			—
Benefit for federal income taxes		$	—		$	90		$	82

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⁽¹⁾	Amount excludes the income tax effect of items recognized directly in “Fannie Mae stockholders’ equity (deficit).”

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following table displays the difference between our effective tax rates and the statutory federal tax rates for the years ended December 31, 2012, 2011 and 2010, respectively.



	For the Year Ended December 31,
	2012				2011				2010
Statutory corporate tax rate		35.0		%		35.0		%		35.0		%
Tax-exempt interest		(0.7	)			0.9				1.3
Equity investments in affordable housing projects		(3.9	)			4.8				6.3
Other		0.2				1.0				0.1
Valuation allowance		(30.6	)			(41.2	)			(42.1	)
Effective tax rate		—		%		0.5		%		0.6		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The following table displays our deferred tax assets, deferred tax liabilities, and valuation allowance as of December 31, 2012 and 2011.



		As of December 31,
		2012				2011
	(Dollars in millions)
Deferred tax assets:
Allowance for loan losses and basis in acquired property, net			$	26,263			$	29,935
Mortgage and mortgage-related assets			14,912				12,358
Debt and derivative instruments			5,450				6,562
Partnership credits			5,933				5,473
Partnership and other equity investments			1,610				1,809
Unrealized losses on AFS securities, net			—				442
Net operating loss and alternative minimum tax credit carryforwards			2,586				5,904
Other, net			2,084				2,053
Total deferred tax assets			58,838				64,536
Deferred tax liabilities:
Unrealized gains on AFS securities, net			496				—
Other, net			—				23
Total deferred tax liabilities			496				23
Valuation allowance			(58,851		)		(64,080		)
Net deferred tax (liabilities) assets			$	(509	)		$	433

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table displays the changes in our unrecognized tax benefits for the years ended December 31, 2012, 2011 and 2010, respectively.



	For the Year Ended December 31,
	2012				2011				2010
	(Dollars in millions)
Unrecognized tax benefits as of January 1		$	758			$	864			$	911
Gross increases—tax positions in prior years		—				1				83
Gross decreases—tax positions in prior years		(110		)		(2		)		(31		)
Settlements		—				(105		)		(99		)
Unrecognized tax benefits as of December 31⁽¹⁾		$	648			$	758			$	864

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⁽¹⁾	Amounts exclude tax credits and net operating losses of $648 million, $758 million and $804 million as of December 31, 2012, 2011 and 2010, respectively.