Non Deductible Contributions

Diane and i each have traditional irays made with non deductable contributions, worth 65 k. Our accountant recommended a waft conversion of our non deductible irays ahead of possible higher tax rates. Was that a good idea? We are in the top racket and will be there for at least the next four years. I had expected the taxable amount to be 20 k for each of us based on our non deductible contribution. Is that correct? Or does our 700 thousand dollar roll over ira, all pre tax, need to get factored in, which would boost the taxable amount? It turns out we never included that 700000 dollar roll-over ira in our form 86 o six