I've had a MacBook Air for some time, so I have quite a few spreadsheets. If I go with Office For IPad, can I download sheets from Mac to IPad and vice verca?
Yes, it's doable with something like Dropbox. Keep in mind that Office for the iPad does not give you edit capability on your spreadsheets unless you subscribe to Office 365.
I've had a MacBook Air for some time, so I have quite a few spreadsheets. If I go with Office For IPad, can I download sheets from Mac to IPad and vice verca?
Haven't tried it personally yet but it looks like it can. You will need a subscription to their Office 365 service to edit them on the iPad though. See here for more
This is one of those situations where Microsoft Onedrive will have to be the cloud storage you will need to have installed on your Mac to make this work. There is no integration right now for MS Office for iPad with dropbox or iCloud. If you have the onedrive app installed on your Mac, you simply save your doc there and it will then be available on your ipad for editing in Office. No avoiding this right now. Thankfully, you can get 10GB of free storage on Onedrive just for setting it up and with office 365, you get an additional 20GB.
Like others have said, you will need to pay for an office 365 subscription before you will be able to edit or create any docs on iPad. $99 a year or $10 a month. That gets you a copy of MS Office for Mac also though if you don't already have it (up to 5 PCs/Macs plus mobile devices). Depending on how many systems you have and how often you upgrade to a new version of office, the $99 a year is either a great deal or a huge expense.
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