The amount in Box 12 of your W-2 with code V is the total value of the underlying shares when you exercised your non-qual stock options. To determine the cost basis per share, divide the amount in Box 12 by the total number of shares you exercised. To determine the cost basis of the shares sold to pay your tax withholding, multiply the cost per share (which you just calculated) by the number of shares sold (which should be reported on your Form 1099-B). That is your cost basis for the shares sold. It should result in rather small gain or loss. The cost basis could possibly be the same as the sales proceeds.
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