You cannot electronically file the extension through the CD/downloaded version of TurboTax, but you can use the TurboTax Easy Extension to electronically file your extension and pay any taxes you may owe. You can create your extensions using the CD/downloaded version of TurboTax, but they will need to be mailed.
Take a look at the following TurboTax article for more details: Can IRS extensions be e-filed?
As for your state extension, every state handles this a bit differently. Take a look at the information in this TurboTax article to learn how your state handles extensions: Do I need to file an extension for my personal state taxes?
When you come back to your returns to finish and electronically file using your CD/downloaded version of TurboTax, there will be no charge to electronically file your Federal return, but there is a charge for electronically filing your state return.
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