What does code V in box 14 of my W2 mean??

[monaLisa_smirk]

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! 

[jsthaller]

I had a Code V for non-statutory stock options. I thought these options were not to be included in the total amount of income against the Social Security maximum per year allowable earnings number? Social Security sent me a letter saying I owned a bunch of money to them for all of 2013 as my stock options were more than the $15,000 or so allowable.

[monaLisa_smirk]

The codes V in (Box 12 vs Box 14) refer to different things. Box 14/"V" is for non-taxable health benefits, as I'd described it above.  And [per SuperUser 'TomD8', below] Box 12/"V" is for income re "exercise of non-statutory stock options."  (Not a public company / no stock options where I work, so I cannot give you a direct quote from W2, myself.)
    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.

[clealea1]

At the Medical School that I work for, in Box 14; Code V, is actually used for our Parking expenses.  I am finding different companies to use this code differently.  Therefore, when filing, by choosing "Other" in the drop down for the code V, you should then have the option to type in what it was for; Ex: Parking

[TomD8]

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.