You take your iTunes music and convert it into the wav version in iTunes. This is a known issue with Premiere Elements (many versions).
If any questions about the iTunes how to, please let me know and I will go over the steps with you if needed.
We will be watching for your progress.
Ok. i will attempt to convert the song into a WAV version. are there any other steps i need to take if the conversion is unsuccessful?
The conversion should be successful. The history on iTunes and Premiere Elements points to that.
Steps included should be:
a. Setting the iTunes preference for WAV Version as given in the how to link.
b. In Music/Songs, selecting the song imported into the iTunes Library and applying the Create WAV Version to it.
Please see the end of a recent thread here for some screenshots that I prepared on that phase.
The iTunes how to should be straight forward. But, we will be watching for further developments.