So with the P0740 CEL, does it mean my transmission is messed up. When i pulled up the code, it says reads P0740, torque converter solenoid circuit open, and P1298 Electric Load Detector high input. Could it be something electrical or mechanical?

 

ELD codes are often spurious. Clear it and see if it re-occurs.

I think the torque converter solenoid is one of the two on top of the transmission where it meets the engine. Make sure they are plugged in and the plugs aren't corroded. You can check solenoid coils for open with an ohmmeter.