Short answer: It can be done, but it would break a lot and have performance issues.
Reason: In addition to your personal files a lot of other data is kept in your home folder e.g. configuration files. If you would go with NTFS partition for home then this would not enable you to use appropriate permission on files. Using ext4 on Windows 8 is not well supported.
Suggestion: Create a dual boot where Windows can use its native NTFS and Fedora its ext4 filesystem. Add an additional NTFS partition where you keep your personal files. Let's call it data partition.
To make it more consistent I would propose using (soft)links from your home folder to the the partition in both operating systems.
I will assume that you have mounted the data partition under
/data in Fedora and assigned drive letter
E: to it in Windows. In addition that you have folder called
Pictures on the data partition that you would like to share.
Creating soft links from command line in Fedora:
ln -s /home/[your_username]/Pictures /data/Pictures
Creating soft link (called Junction) to same folder in Windows Command Prompt:
mklink /j C:\Users\[your_username]\Pictures E:\Pictures
For both cases make sure that the first folder would not already exist.
Hope this helps you to get the desired effect of same files under both home directories with the benefit of stable operating systems.