Pic of fuel reserve switch 2004 Yamaha V-Star Classic

SOURCE: 2002 Yamaha V-Star Classic 1100 Will not run over 70 MPH

Hi,
The first thing you need to check is the air filter. Sometimes critters can get into the airbox when a bike sits for awhile. Sounds crazy, but it has happened to me. If nothing is blocking the filter, give it a quick clean since you have it out.
Next things to check:
Faulty diaphragm
Improperly adjusted fuel level
Clogged or loose main jet
Faulty fuel pump
You may not be able to check these on your own, but these are the next likely culprits.
Hope this helped

SOURCE: how to lower the idle on a 2002 yamaha 650 v-star classic?

under the left side of the gas tank you will see i black knob/screw at the end of what looks like a hose. the knob faces the rear of bike. that adjusts the idle. its real easy to find and the only adjustment you can make to the carbs.

SOURCE: where is the oil filter on my yamaha V-star 1100

On the right side of the bike (right side when ou are sitting on it) just above the rear brake lever behind a small circular plate. remove the plate and the oil filter is inside (you will easily see it). Warning---on these bikes you have to drop the front exhaust header and right floor board in order to change the oil filter unless you install a after market oil filter relocation kit. If you plan on changing your own oil it is highly recommended to install this relocation kit.

SOURCE: Need to get oil

First of all, I want to compliment you on your bike! That V-Star is in so many ways, one of the best all around bikes....Very durable engines, user friendly, comfortable and DEPENDABLE, not to mention one the best value to dollar ratio on the market, right along next to the Suzuki Boulevard....Not to get off subject but I enjoy these bikes thoroughly!

You want to make SURE that the only oil you use is a quality oil, which will have THE seal of approval stamp on the bottle that says that it meets the requirements of all the major motor corporations you want to make ABSOLUTELY sure that the ONLY oil that goes in that bike's crank case and gear box is specifically intended for use with a "MULTI-PLATE WET CLUTCH" system.....Otherwise a very bad day can be predicted. "Champion Oil" is a reputable brand and preferred thier 2-stroke raceing oil over all else when I raced 250cc class arena-cross. I have since retired from dirt bike racing to take up a much safer and peaceful profession in law enforcement....But I know Champion makes 4-stroke case oil thats compatible with wet clutches....Yama-Lube is ok too...Just make sure you see "Wet Clutch" on the bottle and it's all a matter of consistenly works best for you and preference after that.

SOURCE: Fouled Fuel System on 2005 Yamaha V-Star 1100 Classic

put a new filter on it