Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

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, 2013 and 2012.



		As of December 31,
		2013				2012
	(Dollars in millions)
Deferred tax assets:
Allowance for loan losses and basis in acquired property, net			$	20,918			$	26,263
Mortgage and mortgage-related assets			16,350				14,912
Debt and derivative instruments			3,958				5,450
Partnership credits			4,172				5,933
Partnership and other equity investments			1,255				1,610
Net operating loss and alternative minimum tax credit carryforwards			330				2,586
Other, net			1,972				2,084
Total deferred tax assets			48,955				58,838
Deferred tax liabilities:
Unrealized gains on AFS securities, net			868				496
Other, net			2				—
Total deferred tax liabilities			870				496
Valuation allowance			(525		)		(58,851		)
Net deferred tax assets (liabilities)			$	47,560			$	(509	)

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, 2013, 2012 and 2011.



	For the Year Ended December 31,
	2013				2012			2011
	(Dollars in millions)
Current income tax (provision) benefit		$	(3,067	)		$	—		$	90
Deferred income tax benefit ⁽¹⁾		48,482				—			—
Benefit for federal income taxes		$	45,415			$	—		$	90

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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, 2013, 2012 and 2011, respectively.



	For the Year Ended December 31,
	2013				2012				2011
Statutory corporate tax rate		35.0		%		35.0		%		35.0		%
Tax-exempt interest		(0.2	)			(0.7	)			0.9
Equity investments in affordable housing projects		(1.5	)			(3.9	)			4.8
Other		0.2				0.2				1.0
Valuation allowance		(151.3	)			(30.6	)			(41.2	)
Effective tax rate		(117.8	)	%		—		%		0.5		%

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, 2013, 2012 and 2011, respectively.



	For the Year Ended December 31,
	2013				2012				2011
	(Dollars in millions)
Unrecognized tax benefits as of January 1		$	648			$	758			$	864
Gross increases—tax positions in prior years		—				—				1
Gross decreases—tax positions in prior years		(134		)		(110		)		(2		)
Settlements		—				—				(105		)
Unrecognized tax benefits as of December 31⁽¹⁾		$	514			$	648			$	758

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⁽¹⁾	Amounts exclude tax credits of $220 million as of December 31, 2013 and exclude tax credits and net operating losses of $648 million and $758 million as of December 31, 2012 and 2011, respectively.