When brother and sister sell a house what exemption is there Do they get 250k or 500k?

When a brother and sister sell a house, they can potentially benefit from the capital gains tax exemption for primary residences. If they both meet the ownership and use tests, they can exclude up to $500,000 in capital gains if they file jointly, assuming they are married. If not married, each sibling can exclude up to $250,000. It's important to note that this exemption applies only if the property was their primary residence for at least two of the last five years before the sale.