If I download TurboTax instead of using a CD, will my prior years' information be transferred to the new return?

The CD and the Download are the same program, however the download has the latest release whereas the CD is the Beta version of the 2022 software.

If you used the 2021 desktop editions on the same computer where the 2022 software has been installed then when you start a New 2022 tax return the software will show you a list of the 2021 tax data files stored in the TurboTax folder in the Documents directory.  You only need to choose the 2021 tax data you want to transfer to the 2022 return.

See this TurboTax support FAQ for transferring the prior year tax data to the current year when using the TurboTax CD/Download editions for Windows - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-2021-turbotax-windows/L0JcyjyrG_US_en_US?uid=lbs764gt

See this TurboTax support FAQ for transferring the prior year tax data to the current year when using the TurboTax CD/Download editions for a Mac - https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/transfer-last-year-return-2021-turbotax-software/L0SKCGkzn_US_en_US?uid=lbs778ak