The return may be correct, as most qualified dividends are taxed as capital gains. If you are filing married-joint, the first $94,050 in capital gains income would not be taxed on your federal tax return. When you print out your return and schedules before you file it, you can look on the Qualified Dividends and Capital Gain Tax worksheet to see how your tax is calculated.
If you have a large deduction reported on your Schedule D I assume you are referring to a large cost basis reported, as Schedule D reports sales and cost basis of assets sold. It is also possible you see an adjustment to cost basis there. If so, you would have to review your investments sale entries to see where it is coming from.
You enter investment sales in the Wages and Income section of TurboTax, then Investments Sales, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc...
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