Unfortunately, you can't transfer TurboTax Online returns into TurboTax CD/Download. TurboTax Online can't create .tt files.
This would be good to know when considering options. If i purchased the software version already and used the online version last year, can I use my licence to switch to an online version to expedite importing info from last year? Why would you not make this an option given we are paying the same company for the same software?
No, you can’t use codes for TurboTax CD/Download with TurboTax Online & vice versa.
And there are several key differences between the Online & CD/Download versions of TurboTax. For example, TurboTax Online securely saves your returns on our servers, while the CD/Download version only saves to your computer. The CD/Download version allows you to edit your tax forms directly, while TurboTax Online only asks you interview-style questions. This TurboTax FAQ lists all the differences: What are the differences between the online and the CD/download edition of TurboTax?