Looking at all the ROMs and PLAs on the 8086 die finds 9659 vacant transistor sites. This boosts the transistor count from 19,618 "real" transistors to 29,277 "potential" transistors. So the published 29,000 number is right if you count "missing" transistors too.
But there are more complications. Output pins are driven by high-current driver transistors, built from multiple transistors in parallel. Do you count that as 12 transistors or 1 transistor?