1. Yes, you will have to pay taxes on the $16,131 conversion amount unless you made/make the contribution to the traditional IRA as nondeductible and it was/is reported on Form 8606. Please see backdoor Roth example for more details how to enter nondeductible traditional IRA contribution and the conversion in that case.
2. It depends, if you prefer to leave the earnings in the account and are ok to pay the 6% excess contribution penalty on the $11,995 for 2020 then you should wait until after October 15, 2021.
3. It depends, when you take the Roth distribution. If you make a qualified distribution, made after the 5-year period and after you reach 59 ½, from your Roth account then the distribution of the earnings will not be taxable. Please see Are Distributions Taxable? for more details.
4. Yes, if wait until after October 15, 2021 you will have to pay the 6% penalty tax on the $11,955.
5.No, there are no other tax on the $11,955 excess contribution on the 2020 return.
6. Yes, if you want to avoid the 6% penalty on your 2020 return for the 2020 contribution then you need to take out the 2020 excess contribution and earnings before the due date. The earnings will be included in your 2020 taxable income. You also will have to pay a 10% early withdrawal penalty on these earnings.
You still will have to pay the 6% penalty on the excess 2019 contribution on your 2020 tax return since you did not withdraw them by December 31, 2020.
7. Please be aware, since you contribute to both a traditional and Roth IRA in the same year, the excess is deemed to have occurred in the Roth IRA. Therefore, the gain/earnings will be calculated using the last (excess) contribution to the Roth.
8. The 6% excess contribution penalty and the 10% early withdrawal penalty are calculated on Form 5329. If you had nondeductible traditional IRA contribution, then this will be reported on Form 8606.
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