Some things you should know about recording from a turntable.

The "Red and White" USB device is designed for line level audio and video and does not include a phono pre-amp.  So if your turntable does not have a line level output (many do not), this device (see link below) will not produce enough output for the audio to be recognized.

http://www.magix.com/gb/accessories/

You either need a device such as the second one (gray box) on the above link, which does include a phono pre-amp, or you could hook  up your existing device via the headphone output on your receiver/amplifier using an adapter cable such as the one at this link

http://www.frys.com/product/7003291?site=sr:SEARCH:MAIN_RSLT_PG

If you use this approach, make sure that the single connector (the black one here) is the same size as your heaphone connector.  Also, when you go to play back your audio through your receiver/amplifier, start at a fairly low volume and start turning it up to a point where your device can recognize the signal at a level where you do not get distortion or "clipping".