If the Passwords checkbox is disabled in the Sync preferences window, it's because you have set a master password.

Firefox Sync will not synchronize your passwords if a master password is set. If you would like to continue synchronizing your passwords, try removing your master password before synchronizing.

The initial Sync operation on a device may take some time, definitely more than just a few minutes - especially with a new Sync account and connecting two devices.

Using a master password and syncing of passwords shouldn't be an issue any longer, iirc that was 'fixed' a few versions ago.

Thank you for your replies. I never had a master password set up, so that definitely isn't the issue. It has now been about a day and a half and it still doesn't seem to be copying a lot of the information. It copied some bookmarks, but still not the passwords, though that box is checked.