diff --git a/Code/Framework/AzQtComponents/AzQtComponents/Utilities/Conversions.cpp b/Code/Framework/AzQtComponents/AzQtComponents/Utilities/Conversions.cpp
index 4764b9f911..bef41bb487 100644
--- a/Code/Framework/AzQtComponents/AzQtComponents/Utilities/Conversions.cpp
+++ b/Code/Framework/AzQtComponents/AzQtComponents/Utilities/Conversions.cpp
@@ -43,19 +43,20 @@ namespace AzQtComponents
     {
         const QChar decimalPoint = locale.decimalPoint();
         const QChar zeroDigit = locale.zeroDigit();
+        const int numToStringDecimals = AZStd::max(numDecimals, 20);
 
-        // We want to truncate, not round. toString will round, so we add an extra decimal place to the formatting
-        // so we can remove the last value
-        QString retValue = locale.toString(value, 'f', (numDecimals > 0) ? numDecimals + 1 : 0);
+        // We want to truncate, not round. toString will round, so we add extra decimal places to the formatting
+        // so we can remove the last values
+        QString retValue = locale.toString(value, 'f', (numDecimals > 0) ? numToStringDecimals : 0);
 
         // Handle special cases when we have decimals in our value
         if (numDecimals > 0)
         {
-            // Truncate the extra digit now, if it's still there
+            // Truncate the extra digits now, if they're still there
             int decimalPointIndex = retValue.lastIndexOf(decimalPoint);
-            if ((decimalPointIndex > 0) && (retValue.size() - (decimalPointIndex + 1)) == (numDecimals + 1))
+            if ((decimalPointIndex > 0) && (retValue.size() - (decimalPointIndex + 1)) == numToStringDecimals)
             {
-                retValue.resize(retValue.size() - 1);
+                retValue.resize(retValue.size() - (numToStringDecimals - numDecimals));
             }
 
             // Remove trailing zeros, since the locale conversion won't do
diff --git a/Code/Framework/AzToolsFramework/Tests/SpinBoxTests.cpp b/Code/Framework/AzToolsFramework/Tests/SpinBoxTests.cpp
index d1c3ee5b3c..eb09c68cee 100644
--- a/Code/Framework/AzToolsFramework/Tests/SpinBoxTests.cpp
+++ b/Code/Framework/AzToolsFramework/Tests/SpinBoxTests.cpp
@@ -77,6 +77,19 @@ namespace UnitTest
             m_intSpinBox.reset();
         }
 
+        QString setupTruncationTest(QString textValue)
+        {
+            QString retval;
+            m_doubleSpinBoxWithLineEdit->setDecimals(7);
+            m_doubleSpinBoxWithLineEdit->setDisplayDecimals(3);
+            m_doubleSpinBoxWithLineEdit->setFocus();
+            m_doubleSpinBoxWithLineEdit->GetLineEdit()->setText(textValue);
+            m_doubleSpinBoxWithLineEdit->clearFocus();
+
+            return m_doubleSpinBoxWithLineEdit->textFromValue(m_doubleSpinBoxWithLineEdit->value());
+        }
+
+
         AZStd::unique_ptr<QWidget> m_dummyWidget;
         AZStd::unique_ptr<AzQtComponents::SpinBox> m_intSpinBox;
         AZStd::unique_ptr<AzQtComponents::DoubleSpinBox> m_doubleSpinBox;
@@ -277,4 +290,34 @@ namespace UnitTest
         // test would result in a crash
         EXPECT_TRUE(m_intSpinBox.get() == nullptr);
     }
+
+    TEST_F(SpinBoxFixture, SpinBoxCheckHighValueTruncatesCorrectly)
+    {
+        QString value = setupTruncationTest("0.9999999");
+
+        EXPECT_TRUE(value == "0.999");
+    }
+
+    TEST_F(SpinBoxFixture, SpinBoxCheckLowValueTruncatesCorrectly)
+    {
+        QString value = setupTruncationTest("0.0000001");
+
+        EXPECT_TRUE(value == "0.0");
+    }
+
+    TEST_F(SpinBoxFixture, SpinBoxCheckBugValuesTruncatesCorrectly)
+    {
+        QString value = setupTruncationTest("0.12395");
+
+        EXPECT_TRUE(value == "0.123");
+
+        value = setupTruncationTest("0.94496");
+
+        EXPECT_TRUE(value == "0.944");
+
+        value = setupTruncationTest("0.0009999");
+
+        EXPECT_TRUE(value == "0.0");
+    }
+
 } // namespace UnitTest