These are all good descriptions. I forgot about importing the prior year's return from your computer to the online version. That's an important time-saving step for people who filed using Turbo Tax last year.
I believe I would change one phrase in the process @scottx described, a phrase many people here have used.
After you download your .tax file from Online to your desktop, I'm pretty sure you do not "import" that return into the Desktop program. You simply "open" it.
Click the "Find a Tax File" link to browse to the tax file on your computer. Or, click "Open Tax Return" in the File menu.
The return will be in the folder you selected when you downloaded the file.
