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Code "V" in Box 14 refers to contributions you made to "Non-Taxable Health Benefits". (I am reading this description off the back of my W-2.)
Box 14 is where taxable fringe benefits are summarized, but it does also include a documentation of several Non-Taxable items (i.e., via pre-tax dollars), such as: code K (non-taxable dental/vision deductions); code V (non-taxable health benefits); code Y (non-taxable flexible spending accounts [FSA]). ... Some other non-taxable codes are included in box 14 as well; try reading the back of your W-2 for more guidance. Good luck!
Do you mean Box 12? Per the IRS, Code V in Box 12 is:
V—Income from exercise of nonstatutory stock option(s) (included in boxes 1, 3 (up to social security wage base), and 5). See Pub. 525, Taxable and Nontaxable Income, for reporting requirements.
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