Mark: WavePad is a sound editor primarily. I know that it will record, but I have never used it for that. For my tape and LP conversions, I use Golden Records, and then move the captured .wav file into WavePad for final editing. Unless you have a boom box, I would recommend connecting your tape deck to your receiver, and then connecting the line out of the receiver to your converter (I use a Behringer UCS-202 or something like that I purchased), which connects to your computer via a USB jack. I get first-class recordings. Golden Records does have some limited audio editing capabilities, but it is nowhere near as full-featured for audio file editing as WavePad.
Golden Records is optimized for converting LPs and tapes and I think by skipping that software, you MAY be finding that WavePad isn't really designed to do what GR does so well. By the way, I don't work for NCH. It has just been my experience that you need to acquire the necessary specialized software to get a superior product. Just because something can do something, doesn't mean it can do it well. Just my two cents. Let us know how you make out; or, maybe, as often happens, someone with more knowledge will be able to explain what is going on in your situation.
Have a great day.
Regards,
-Phil