Thanks for the advice. I went through the whole thing again, but got the same result. I had not missed entering anything.
We also rolled over two 401K plans to IRAs in 2019, one for me and the other for my spouse (with zero tax due). Is this what is causing it? On the worksheet that feeds Form 8606, it appears that having those amounts included in the total IRA amounts at the end of 2019 is what may be driving such a high taxable amount for the Roth conversion, thereby offsetting the IRA basis for the one I converted to a Roth. Does that make sense?
Or perhaps TurboTax Deluxe can't properly account for all of that in one year?
