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!
Not sure if I just answered your question? And, again, I'm clueless re stock-options; haven't ever worked private sector.
But I also thought that if using TurboTax then typically the algorithm is supposed to figure out what you are / aren't able to do, etc.?? (And I've gotten occasionally helpful human assistance from them, too.) Good luck getting it sorted out, if you've not already done so.
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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