If a house is jointly owned by 4 people, and they all use it as principal residence, do each one get 250,000 tax exemption?

[DianeC958]

It needs to be split 50/50 since it is owned by two people.

@Sadbk92

[Sadbk92]

@DianeC958 does it need to be split 50/50 between mother and daughter because both are on certificate? Or can daughter claim 100% ?

[DianeC958]

Because both are on the certificate the property is owned by both parties and needs to be split 50/50.

@Sadbk92