What version of Premiere Elements and on what computer operating system is it running?
What you are describing is a common situation. You should take your iTunes music into iTunes to convert it to the WAV version according to the following iTunes how to. Then you import that WAV version in Premiere Elements with Premiere Elements' Add Media (Get Media)/Files and Folders.
If you need any help with the iTunes how to, please let me know, and I will go over the details with you.
Please let us know the outcome as your schedule permits.
I know this is an old post but I have this same issue.
im trying to convert my songs from iTunes into wav files. I follow the steps to preferences to set it to convert to wav but when I click on a song and try to convert it all of the options (including convert to wav) are graded out.
Thanks for your help. I was trying to follow the instructions to convert them to WAV files and it wasn't working. I finally figured out that the songs were in iCloud. Once I downloaded them to my device it worked like a charm.
Thank you so much for your quick response.